May 31 (Reuters) - U.S. stock index futures reversed

early losses on Friday after evidence of progress on inflation

renewed hopes for forthcoming rate cuts from the Federal

Reserve.

The Personal Consumption Expenditures Price Index rose 0.3%

in April, in line with forecasts by economists polled by

Reuters. In the 12 months through March, PCE inflation gained

2.7%, as expected.

Core PCE, which excludes the volatile food and energy

components, increased 0.2% last month against expectations of a

0.3% increase. Annually, it was at 2.8%, in line with forecasts.

At 8:33 a.m. ET, Dow e-minis were up 50 points, or

0.13%, S&P 500 e-minis were up 8.75 points, or 0.17%,

and Nasdaq 100 e-minis were up 14.25 points, or 0.08%.