U.S. inflationary pressures were slightly lower in October, as the U.S. future inflation gauge slipped to 103.5 from an upwardly revised 103.6 in September, originally reported as 103.4, according to data released Friday morning by the Economic Cycle Research Institute.

"Despite its latest downtick, the USFIG remains close to its September high," ECRI Chief Operations Officer Lakshman Achuthan said in a release. "Thus, U.S. inflation pressures have increased somewhat since August."

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