Despite a recent rise in energy prices, inflationary pressures in the U.S. remain contained, according to a report released Friday by the Economic Cycle Research Institute.

The ECRI US future inflation gauge slipped to 105.6 last month, from 105.8 in January.

"The February dip in the USFIG is consistent with relatively restrained inflation pressures," says Lakshman Achuthan, ECRI director