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European FIGs Edge Up


Underlying price pressures in the euro zone edged up in August as Germany showed signs of a mild economic recovery, an index compiled by the Economic Cycle Research Institute showed on Friday.

ECRI, which designs indices aimed at predicting business cycles in leading economies, said its Eurozone Future Inflation Gauge (EZFIG) rose to 93.5 in August from a downwardly revised 92.4 in July.

"The EZFIG has been rising gently since its April 2003 low," ECRI said. "If this rise were to be sustained, it would imply an upturn in Eurozone inflationary pressures."