U.S. inflationary pressures were lower in December as the U.S. future inflation gauge fell to a 47-year low of 85.5 from a downwardly revised 86.7 in November, originally reported as 88.5, according to data released Friday by the Economic Cycle Research Institute.

The smoothed annualized growth rate, a comparison of the latest figures to the preceding year’s average level, narrowed to negative 36.5% from negative 37.7%, originally reported as negative 35.3%.

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