Inflationary pressures were lower in August as the U.S. future inflation gauge fell to a six-year low of 109.3 from an unrevised 112.4 in July, according to data released this morning by the Economic Cycle Research Institute.

The smoothed annualized growth rate, a comparison of the latest figures to the preceding year’s average level, widened to negative 11.0% from negative 7.5%, originally reported as negative 7.6%.

The August decrease was driven by disinflationary moves in measures of commodity prices, labor market conditions, and vendor performance, offset in part by inflationary moves in measures of loans and interest rates, ECRI said in a release.

“With the USFIG falling to a fresh 73-month low, underlying inflationary pressures are now falling even more rapidly,” ECRI said.

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