Mumbai, Aug. 14 -- The U.S. stock market rose to an all-time high Thursday following the latest sign that inflation is getting less bad. Stocks also got a lift from easing oil prices in their latest yo-yo move.

The S&P 500 climbed 0.7% and topped its prior record set last week. The Dow Jones Industrial Average added 69 points (0.1%) and the Nasdaq composite gained 0.8%. Wall Street relaxed after a report showed prices at the U.S. wholesale level were 4.7% higher last month than a year earlier while it was not as high as June's 5.5% inflation rate at the wholesale level and it was slightly better than economists expected.

Oil prices eased back on Thursday, helping to limit worries about inflation. The price for a barrel of Brent crude oi...