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Euro Zone Inflation Pressures Nudge Lower

Euro zone inflation pressures nudged lower in September, but remained close to April's five-and-a-half year highs, the Economic Cycle Research Institute said on Friday.

ECRI's Eurozone Future Inflation Gauge, which forecasts cyclical turns in inflation across the 12-nation bloc, slipped to 104.5 in September from 104.8.

"The EZFIG has clearly pulled back from April's five-and-a-half-year high. Thus, inflationary pressures in the Eurozone are abating," ECRI said in a statement.

Official euro zone inflation fell more than expected last month to 1.6 percent following a sharp drop in oil prices.

But the European Central Bank expects price pressures to pick up by year-end, prompting a likely rise in interest rates to 3.5 percent in December.

ECRI said easing inflation pressures in Germany were partly offset by a rise in Spanish and Italian inflationary pressures and steady levels in France.

The euro zone gauge uses a weighted average of ECRI's indices for Germany, France, Italy and Spain...