Stocks were higher Friday after U.S. consumer prices rose even more than expected in November. Markets have already been reflecting the chances of several Federal Reserve interest rate hikes in 2022.

In afternoon trading, the Dow Jones Industrial Average was up 116 points, or 0.3%, with the S&P 500 rising 0.6% and the Nasdaq Composite advancing 0.4%. Trading was mixed across the stock market, with just over half of S&P 500 components rising.

“Friday’s…