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By Pranav Kashyap and Purvi Agarwal
(Reuters) -London stocks closed higher on Friday, logging a third straight month of gains, as investors cheered an in-line inflation reading from the U.S. that brought back some hopes of a September rate cut by the Federal Reserve.
The blue-chip FTSE 100 index rose 0.5%, while the mid-cap FTSE 250 was up 0.3%. Both indexes logged a third straight month of gains, despite ending the week lower.
The much awaited U.S. personal consumption expenditure (PCE) data showed inflation rose in line with expectations in April, reviving some bets of a September interest rate cut from the Fed.
Meanwhile, euro zone inflation rose in May, data showed, in a sign that the European Central Bank…
