Surging costs for food, energy, housing and other items have left Americans enduring their highest annual inflation rate since 1982.
The latest inflation data comes ahead of the Federal Reserve’s two-day meeting of policymakers next week.
“The inflation print from this morning will reinforce the Fed’s resolve to accelerate tapering.
Apart from a decline Thursday, stocks have bounced back this week following two weeks of volatile trading that left the S&P 500 with back-to-back weekly losses.