By 
The consumer price index is expected to show a 0.7% increase in May, according to economists polled by The Wall Street Journal. The core CPI that excludes food and energy is seen rising 0.5%.
The 12-month rate of increase in the main CPI is forecast to hold steady at 8.3% and keep it near a 40-year high. The report will be released at 8:30 a.m. Eastern by the Bureau of Labor Statistics.
The Dow Jones Industrial Average
DJIA,
-1.94%
and S&P 500
SPX,
-2.38%
were set to open lower in Friday trades. The 10-year bond yield
TMUBMUSD10Y,
3.047%
was flat.
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