U.S. inflationary pressures were lower in October, as the U.S. future inflation gauge fell to 97.4 from a downwardly revised 97.5 in September, 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, slipped to negative 1.0% from a downwardly revised 0.3% in September, originally reported as 1.0%.

"Thus, U.S. inflation pressures remain restrained, but do not indicate any risk of deflation," ECRI said in a release.

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