U.S. inflationary pressures were slightly lower in May, as the U.S. future inflation gauge slipped to 103.9 from an upwardly revised 105.5 in April, originally reported as 105.4, according to data released Friday morning by the Economic Cycle Research Institute.

"The USFIG has now declined to a six-month low," ECRI Chief Operations Officer Lakshman Achuthan said in a release. "Thus, U.S. inflation pressures are in a clear cyclical downturn."

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