U.S. FIG Stabilizes

Inflationary pressures in the United States crept up in July for the first time in six months, a report showed on Friday, easing fears of deflation.

The Economic Cycle Research Institute's Future Inflation Gauge, which is designed to anticipate cyclical swings in the rate of inflation, inched up to 115.4 last month from a revised 115.3 in June, the research group said.

"Underlying inflationary pressures, after falling since early this year, may be starting to stabilize," ECRI said in a statement.

The index's annualized growth rate, which smooths out monthly fluctuations, fell to -1.6 percent in July from a revised -0.2 percent in June.