U.S. inflationary pressures were lower in May, as the U.S. future inflation gauge slid to 101.0 from a revised 102.9 in April, originally reported as 102.8, according to data released Friday by the Economic Cycle Research Institute.

“With the USFIG hitting a seven-month low, underlying inflation pressures have clearly begun to recede,” chief operations officer Lakshman Achuthan said in a release.

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