Wall Street’s main indexes were set to open higher on Friday as investors shrugged off data showing a jump in inflation, although recent worries about a spike in prices kept the S&P 500 on course for its smallest monthly gain since February. Consumer prices as measured by the personal consumption expenditures (PCE) price index, excluding the volatile food and energy components, rose 0.7% in April after a 0.4% increase in March. In the 12 months through April, the so-called core PCE price index vaulted 3.1%, blowing past the Federal Reserve’s 2% target and reflecting pent-up demand as the economy reopens.
