U.S. FIG Rising

Inflationary pressures in the U.S. economy grew in December, an ECRI report showed on Friday.

ECRI's Future Inflation Gauge, which is designed to anticipate cyclical swings in the rate of inflation, rose to 116.6 last month from a revised 115.2 in October, the research group said.

"Underlying inflationary pressures remain in a cyclical upswing, although they are not rising as rapidly as they were last fall," ECRI said in a statement.

The index's annualized growth rate, which smooths out monthly fluctuations, fell to 21.2 percent in December from 21.7 percent in November.