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U.S. Future Inflation Gauge Drops

U.S. inflation pressures fell in April to its lowest level in nearly two years... a report said 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, fell to 116.6 in April from 118.6 in March.

"With the U.S. FIG approaching a two-year low, U.S. inflation pressures are in a clear cyclical downswing," said Lakshman Achuthan, managing director at ECRI.

The index's annualized growth rate, which smooths out monthly fluctuations, dropped to minus 5.7 percent in April from a revised minus 3 percent in March.