U.S. inflationary pressures were higher in January, as the future inflation gauge grew to 101.6 from a revised 100.5 in December, 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, climbed to 4.4% from a revised 2.7% in December.

“With the USFIG climbing to a nine-month high, underlying inflation pressures are starting to simmer,” chief operations officer Lakshman Achuthan said in a release.

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