NEW YORK -(Dow Jones)- An index designed to anticipate cyclical turning points in inflation rose to 109.0 in August from 107.0 in July, the Economic Cycle Research Institute said Friday. The smoothed annualized growth rate of the index rose to 18.8% in August from 15.7% in July.
ECRI said the gauge was pushed up by a continued surge in real-estate loan growth, stronger job growth, and a tighter yield spread in Treasury securities.
"Challenging the concern in some quarters about deflation, the gauge indicates that even with a sub-par recovery, U.S. inflationary pressures are on the rise," the report said.
Weekly updates of the index are released only to subscribers.
-By Steven Vames, Dow Jones Newswires; 201-938-2206;