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U.S. Future Inflation Gauge Rises

U.S. inflation ticked higher in June as a rebound in consumer spending allowed companies to mark up prices, a report said on Friday.

But price pressures remained relatively contained, the Economic Cycle Research Institute said in a release.

ECRI's Future Inflation Gauge, which is designed to anticipate cyclical swings in the rate of inflation, rose to 117.7 in June from a downwardly revised 116.7 in May, the research group said.

The index's annualized growth rate, which smoothes out monthly fluctuations, recovered to -0.9 percent from -2.5 percent.

"If the (index) declines noticeably from here, it would be an indication of diminishing U.S. inflation pressures," ECRI said.