Wall Street resumed its advance Friday as investors interpreted a government report of milder inflation as a signal that the Federal Reserve might consider cutting interest rates later this year.

The Dow advanced 111.09, or 0.84 percent, to 13,326.22, the biggest point rise this month.

The Standard & Poor’s 500 index rose 14.38, or 0.96 percent, to 1,505.85, and the Nasdaq composite index rose 28.48, or 1.12 percent, to 2,562.22.

For the week: The Dow rose 0.46 percent, the S&P 500 gained 0.02 percent and the Nasdaq fell 0.39 percent.

Light, sweet crude for June delivery rose 56 cents to settle at $62.37 a barrel in afternoon trading on the New York Mercantile Exchange.