U.S. inflationary pressures were up slightly in June, as the U.S. future inflation gauge grew to 111.6 from 111.3 in May, according to data released Friday morning by the Economic Cycle Research Institute.

"The USFIG edged up in June after having dropped noticeably in May," ECRI Chief Operations Officer Lakshman Achuthan said in a release. "Thus, underlying inflation pressures, while still simmering, have come off the boil."