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Inflation Pressures Grew in Dec. - Report

January 13, 2003
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NEW YORK (Reuters) - Inflationary pressures in the U.S. economy grew in December, mainly from activity in the housing sector and rising commodity prices, 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, rose to 116.6 last month from a revised 115.2 in October, the research group said.

"Underlying inflationary pressures remain in a cyclical upswing, although they are not rising as rapidly as they were last fall," ECRI said in a statement.

The index's annualized growth rate, which smooths out monthly fluctuations, fell to 21.2 percent in December from 21.7 percent in November.

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