The ECRI’s independent inflation gauge continues to point to benign levels of inflation despite a marginal recent uptick. This month’s reading was down slightly and remains in the tight range that has been apparent for several years now. Inflation pressures remain low. Here’s the details via ECRI:
U.S. inflationary pressures were slightly lower in October, as the U.S. future inflation gauge slipped to 103.5 from an upwardly revised 103.6 in September, originally reported as 103.4, according to data released Friday morning by the Economic Cycle Research Institute.
“Despite its latest downtick, the USFIG remains close to its September high,” ECRI Chief Operations Officer Lakshman Achuthan said in a release. “Thus, U.S. inflation pressures have increased somewhat since August.”