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US inflation pressures rise slightly in April-ECRI

 NEW YORK, May 8 (Reuters) - U.S. inflation pressures rose
slightly in April after hitting a 51-year low in March,
indicating policymakers should continue to focus on economic
growth, a research group said on Friday.
 The Economic Cycle Research Institute's U.S. Future
Inflation Gauge (USFIG), designed to anticipate cyclical swings
in the rate of inflation, rose to 78.2 in April from revised
77.9 in March.
 "The USFIG is still near March's 51-year low, affirming
that inflation is far from being a near-term concern," said
Lakshman Achuthan, managing director at ECRI.
 The gauge was pushed up by inflationary moves in measures
of vendor performance, loans, commodity prices and labor market
conditions, partly offset by a disinflationary move in a
measure of interest rates, Achuthan said.
 The USFIG annualized growth rate, which smooths out monthly
fluctuations, fell in April to minus 33.7 percent from a
revised minus 38.0 percent in March.
 (Reporting by Ciara Linnane; Editing by Padraic Cassidy)






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