The latest inflation data from the independent Economic Cycle Research Institute shows that inflation continued to decline in June. The latest reading for their future inflation gauge came in at 101 for the month of June. This was down from a revised 101.3 in May. The index peaked in March at 104.7 and is up 1.3% on a year over year basis. Lakshman Achuthan, ECRI’s COO says inflation is in a “cyclical downturn”:
“With the USFIG falling for three straight months, U.S. inflation pressures are in a clear cyclical downturn.”
The ECRI is one of the few reliable independent sources for inflation data. The latest data is likely to be consistent with upcoming government CPI readings which have been heavily skewed by the surge in motor fuel prices.