U.S. FIG Continues Rise

U.S. inflation pressures rose to their highest level since July 2000 last month a report showed on Friday.

The Economic Cycle Research Institute's Future Inflation Gauge, which is designed to anticipate cyclical swings in the rate of inflation, climbed to 121.5 in February from a revised 120.3 in January, the research group said.

"This is a real bona fide rise in underlying inflationary pressures," said Lakshman Achuthan, ECRI managing director.

The index's annualized growth rate, which smooths out monthly fluctuations, fell to 22.5 percent in February from 24.4 percent in January.