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U.S. FIG Rises

U.S. inflation pressures climbed in October to their highest in five and half years, according to a report released on Friday.

The Economic Cycle Research Institute's U.S. Future Inflation Gauge, which is designed to anticipate cyclical swings in the rate of inflation, rose to 124.0 in October, up from an upwardly revised 123.7 in September...

The index's annualized growth rate, which smoothes out monthly fluctuations, slipped to 7.7 percent from an upwardly revised 8.1 percent in September.

"The U.S. future inflation gauge has kept rising through the recent economic dislocations ... indicating that underlying
inflation pressures remain in a clear cyclical upswing," said Lakshman Achuthan, managing director for the ECRI, in a statement.