NEW YORK - U.S. inflationary pressures were lower in July as the U.S. future inflation gauge fell to 96.1 from a downwardly revised 96.4 in June, according to data released this morning by the Economic Cycle Research Institute.
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The June index was originally reported as 97.4.
The smoothed annualized growth rate, a comparison of the latest figures to the preceding year's average level, slumped to 0.8% from a downwardly revised 3.7%, originally reported as 5.7%. ECRI said disinflationary moves in measures related to employment and the industrial sector pulled the index down.
“Thus, U.S. inflation pressures, which were muted to begin with, are ebbing further,” ECRI said in a release.
