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To: Giordano Bruno who wrote (352481)	1/4/2008 9:49:57 AM
From: ldo79	Read Replies (1) \| Respond to of 436258

naw - we be saved! U.S. inflation pressures hit a 31-month low in Dec - ECRI Fri Jan 4, 2008 9:40am EST NEW YORK, Jan 4 (Reuters) - U.S. inflation pressures reached a 31 month-low in December due mostly to disinflationary moves in measures of commodity prices, loans, jobs and interest rates, a report said on Friday, paving the way to further interest rate cuts by the U.S. Federal Reserve. The Economic Cycle Research Institute's U.S. Future Inflation Gauge (USFIG), designed to anticipate cyclical swings in the rate of inflation, fell to 117.1 in December from 119.8 in November, revised from 119.7. The figure has not been this low since May 2005, when it hit 116.4. "The fact that average hourly earnings growth rose in December is irrelevant engaging the future direction of inflation," said Lakshman Achuthan, managing director at ECRI. "With the USFIG falling to a 31-month low, forward looking inflation pressures are plummeting. Therefore, policymakers need not be concerned about runaway inflation in 2008." The index's downtick was partly offset by an inflationary move in a measure of vendor performance, the report said. The FIG's annualized growth rate, which smooths out monthly fluctuations, fell to minus 4.6 percent from minus 0.7 in November revised up from negative 0.9.