Inflationary pressures were lower in July as the U.S. future inflation gauge fell to a near six-year low of 112.4 from a revised 114.9 in June, originally reported as 115.2, 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, widened to negative 7.6% from negative 4.4%.

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