(Reuters) – U.S. stock index futures sharply extended gains on Wednesday after data showed a further decline in consumer price growth that raised bets that the Federal Reserve was nearing the end of its rapid interest rate hikes.

At 08:32 a.m. ET, Dow e-minis were up 182 points, or 0.53%, S&P 500 e-minis were up 29.5 points, or 0.66%, and Nasdaq 100 e-minis were up 124 points, or 0.81%.

(This story has been corrected to reflect change in consumer price growth, not consumer prices, in paragraph 1)

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Shinjini Ganguli)

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