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U.S. Future Inflation Gauge Falls

U.S. inflation pressures fell in May close to a two-year low... a report said on Friday.

The Economic Cycle Research Institute's U.S. Future
Inflation Gauge (FIG), designed to anticipate cyclical swings in the rate of inflation, fell to 118.2 in May from 118.7 in April, revised upward from 116.6. The previous low was at 117.5 in June 2005.

"With the U.S. FIG in a sustained cyclical downtrend, U.S. inflation is not a serious concern at this time," said Lakshman Achuthan, managing director at ECRI.

The index's annualized growth rate, which smooths out monthly fluctuations, dropped to minus 3.8 percent in May from minus 3.4 percent in April, revised from negative 5.7.