NEW YORK - U.S. inflationary pressures were higher in December as the U.S. future inflation gauge rose to 98.2 from a downwardly revised 95.6 in November, according to data released this morning by the Economic Cycle Research Institute.
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The November index was originally reported as 95.7.
The smoothed annualized growth rate, a comparison of the latest figures to the preceding year's average level, jumped to 31.8% from a revised 27.3%, originally reported as 26.8%. ECRI said inflationary upswings in most of its components pushed the index up.
“The USFIG has now advanced for nine straight months. Thus, underlying inflation pressures are building steadily, pointing to higher inflation in the months ahead,” ECRI said in a release.
