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Will inflation fears flare up again on Friday?

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Inflation is rearing its ugly head again so there will be keen interest on Friday and the US core personal consumption expenditures (PCE) index for May.

The numbers could give a clue to future Federal Reserve policy on “tapering” – the gradual reduction of quantitative easing.

“If this shows accelerating prices then this will only boost tapering speculation further, now that the Fed has started talking about talking about [sic] tapering. If so, it could provide the dollar with renewed strength and may be bad news for stocks,” suggested Fawad Razaqzada at Think Markets/

The market is expecting a 0.6% month-on-month increase.

US personal income, which fell 13.1% in April, is expected to have fallen 2.5% in May, which is progress of sorts, I suppose.

In the UK, the GfK consumer confidence survey for June is expected to show an improvement in the balance number to -7 from -9 in May.

At 11.00am, the CBI distributive trades survey is set to release reported sales from its survey respondents for the month of May.

Significant announcements expected

Finals: Jade Road Investments Ltd (LON:JADE)

Economic data: UK consumer confidence, US personal incomes

FTSE 100 ahead as Bank of England maintains bond buying, while Wall Street set for positive start

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