NEW YORK (TheStreet) -- On June 12, TheStreet will be looking at two reports related to pricing and consumer spending.

Both reports will be of interest to Wall Street as a reflection of larger economic trends. 

In the morning, both the producer price index final demand and the consumer sentiment index for mid-June are scheduled to be released.

The Department of Labor will release the PPI and core PPI figures for the month of May.

PPI is the producer price index expressed as a percentage of change in the price of finished goods and services sold by producers. The core PPI excludes food, energy and trade from the PPI.

If the price of goods and services rise, costs are passed on to consumers indicating inflation. The producer price index final demand for May is expected to increase by 0.4% compared to a month prior.

The increase in energy prices along with the bounce in oil will likely lift PPI out of negative territory. But, the core PPI index is forecast to rise by just 0.1%.

Also, the University of Michigan releases its preliminary survey of consumers for mid-June.

After the strong jobs report release in the first week of June, analysts are expecting the consumer sentiment figure to rise as workers see a strengthening U.S. economy.

The sentiment index is expected to come in at 91.2 for the flash reading, compared to the 90.7 at the end of May.

Consumer spending accounts for more than two-thirds of the economy, and can give valuable insight into the direction of the economy.

Last Friday, the Labor Department reported the U.S. economy added 280,000 new jobs in May, more than what analysts expected. Wages also gained by 2.3% year-over-year.

There are no notable earnings scheduled to be released on Friday. 

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