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Economic Report: Rising rents, gas and food prices push U.S. inflation to 40-year high of 8.6%, CPI shows

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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.

: Are you overreacting to the volatile stock market? These are the four questions you need to ask yourself

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