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U.S. FIG Increases

An index of inflation pressures rose slightly in May showing an increase in inflationary pressures butnot yet a strong uptrend, the Economic Cycle Research Institute(ECRI) said on Friday.

ECRI said its U.S. Future Inflation Gauge (FIG) rose to98.6 in May from a revised 98.2 in April. After peaking at124.7 in April 2000, the inflation index fell sharply as the economic slump took hold.

"U.S. inflationary pressures continue their rise from the generational lows seen in January, but are not yet in a strong uptrend," the report said. "Thus, inflation is likely to turn up later this year, but not substantially."

The smoothed annualized growth rate recovered to -1.1percent in May from -3.2 percent in April.