Wall Street rises as inflation data meets estimates; Dow up 85 pts

US consumer prices increase further in November; Oracle leaps on upbeat quarterly results, outlook

U.S. stock indexes rose on Friday after data showed consumer prices rose largely in line with estimates last month, taking some pressure off investors concerned about the Federal Reserve's aggressive tightening of its monetary policy.
 
The Labor Department's report showed U.S. consumer prices accelerated 6.8% in the 12 months through November, their highest level since 1982, as the cost of goods and services rose broadly amid supply constraints.
 
The so-called core consumer price index (CPI) jumped 4.9% on a year-on-year basis after gaining 4.6% in October.

Economists polled by Reuters had forecast the CPI to climb 6.8%