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U.K. FIG Nudges Higher

Inflationary pressures in Britain rose slightly in August for the second month in a row, a leading research body said on Friday.

The Economic Cycle Research Institute, a New-York based body that specialises in monitoring turning points in the business cycle, said its Future Inflation Gauge rose to 104.9 in August from 104.7 in July.

"Basically this shows the trend of a gentle rise in UK inflation is continuing," said Anirvan Banerji, ECRI research director.

The index hit a 5-1/2 year low of 101.5 hit in December 2001.

Underlying inflation in Britain was at 1.9 percent in August after falling to a record low of 1.5 percent in June.