Stocks jump after US inflation data; US dollar nearly flat

By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes rose on Friday, with all three major U.S. stock indexes posting record closing highs after news that U.S. inflation rose less than expected last month, while the U.S. dollar index was nearly flat. The U.S. Consumer Price Index rose 0.3% last month, slightly less than the expected 0.4%, after climbing 0.4% in August. That reinforced expectations that the Federal Reserve will cut interest rates at its policy meeting next week. "Today's inflation data shows that we're not in a crisis like 2022. Prices are growing, but at a controlled pace. That's good news if you're hoping the Fed will continue to cut interest rates," said Callie Cox, chief market strategist at Ritholtz Wealth Management in Charlotte, North Carolina. The Fed is