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U.S. Inflation Pressures Pick Up

U.S. inflation pressures rose in August..., a report showed on Friday.

The Economic Cycle Research Institute's Future Inflation Gauge, which is designed to anticipate cyclical swings in the rate of inflation, climbed to 118.5 in August from a revised 117.4 in July, the research group said.

The index's annualized growth rate, which smooths out monthly fluctuations, jumped to 3.5 percent in August from 1.7 percent in July.

"The future inflation gauge is approaching its March 2004 high of 119.0, therefore inflation remains a lingering concern, said Lakshman Achuthan, managing director of ECRI.