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U.S. Inflation Pressures Ease

...The Economic Cycle Research Institute's U.S. Future Inflation Gauge, which is designed to anticipate cyclical swings in the rate of inflation, slipped to 121.8 in May from an upwardly revised 122.0 in April. It was originally pegged at 121.8.

"The USFIG remains clearly below its October high. Thus, underlying inflation pressures are still in a mild easing trend," said Lakshman Achuthan, managing director for ECRI.

The index's annualized growth rate, which smoothes out monthly fluctuations, fell to 0.2 percent from an upwardly revised 0.8 percent in April. The growth rate was originally pegged at 0.6 percent.