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U.S. Future Inflation Gauge Rises

U.S. inflation was pushed higher in July..., a report said on Friday...

"Underlying inflationary pressures were backing off a bit in the spring, but it doesn't look like that is persisting," said Lakshman Achuthan, managing director for ECRI.

"Inflationary pressures remain elevated, but they are not running away," he added.

ECRI's Future Inflation Gauge, designed to anticipate cyclical swings in the inflation rate, rose to 119.0 from a downwardly revised 117.5 in June, the research group said.

The index's annualized growth rate, which smooths out monthly fluctuations, recovered to 1.2 percent from minus 1.1 percent.