NEW YORK, Feb 5 (Reuters) - A monthly gauge of U.S. inflation pressures rose for the tenth straight month in January, indicating a steady rise in prices in the coming months, 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 102.0 in January from 99.0 in December, which was revised up from an initial reading of 98.2.
“With the USFIG now advancing for ten straight months, underlying inflation pressures are in a sustained cyclical upswing, promising higher inflation in the coming months,” said Lakshman Achuthan, managing director at ECRI.
The January USFIG annualized growth rate, which smooths out monthly fluctuations, climbed to 37.6 percent from 33.8 percent, which was revised higher from an original 31.8 percent. (Reporting by Ciara Linnane; Editing by Theodore d’Afflisio)
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