NEW YORK (Dow Jones)--Inflationary pressures in the U.S. economy plunged to the lowest levels in a generation during October, a report said Friday. The Economic Cycle Research Institute's future inflation gauge, an index designed to anticipate cyclical turning points in inflation, fell to a 26-year low of 96 in October versus a revised 99.2 for September, ECRI said. The index is based on a 1992 reading of 100. The smoothed annualized growth rate of the index dropped to a 20-year low of -19.7% in October from -17% last month. "Today inflation pressures are at their lowest levels in a generation because of the first synchronous global recession since 1973-75," the report said. Weekly updates of the index are released only to subscribers.