The latest US consumer price inflation didn't spook the markets Frederic J. BROWN

Global stock markets rose on Thursday as US inflation data came in as anticipated, reinforcing the prospect of a Federal Reserve interest rate cut next week.

Meanwhile, the European Central Bank held rates steady for a second consecutive meeting, as expected, and raised its forecasts for eurozone growth and inflation this year.

US Labor Department data showed the consumer price index (CPI) picked up to 2.9 percent in August, as economists monitor the impact of President Donald Trump's tariffs on the world's biggest economy.

The figure was in line with analysts' expectations and is seen as unlikely to deter the Fed from cutting interest rates next week.

While inflation is above the Fed's two-percent tar

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