NEW YORK, Dec. 14 (Xinhua) -- The dollar rose against most major currencies on Friday after a report showing higher inflation trimmed expectations of aggressive rate cuts from the Federal Reserve.

    The Labor Department said on Friday that the consumer price index jumped 0.8 percent in November, the biggest gain since September 2005.

    Meanwhile, the Federal Reserve reported that industrial production rebounded in November, rising by a higher-than-expected0.3 percent.

    The dollar was bolstered this week by a string of economic reports showing higher-than-expected growth in consumer spending and prices.

    The data eased some expectations that the credit crisis would drag the U.S. economy into a recession, suggesting slimmer chances of further rate cuts from the Fed.

    In afternoon New York trading the euro bought 1.4425 dollars, down nearly 2 U.S. cents from 1.4624 dollars the night before.

    The British pound dropped to 2.0154 dollars from 2.0387 dollars in New York, while the dollar rose to purchase 113.42 Japanese yen from 112.20 yen the night before.

    The U.S. currency rose to 1.1533 Swiss francs from 1.1413 francs, and fell to 1.0187 Canadian dollars from 1.0207 Thursday.