Economic Report: Coming up: PCE inflation index and consumer spending

frederic j. brown/Agence France-Presse/Getty ImagesThe so-called PCE price index, the Federal Reserve’s preferred inflation gauge, is forecast to rise 0.9% in March largely due to higher gas prices. The core index that strips out food and energy is seen rising a smaller 0.3%. The yearly increase in both indexes are likely to stay near a 40-year high. Consumer spending is also expected to show a 0.7% increase, according to economists polled by The Wall Street Journal. The report is released at 8:30 a.m. Eastern by the Bureau of Economic Analysis. In premarket trades, the Dow Jones Industrial Average DJIA and S&P 500 SPX were set to open lower in Friday trades.

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