The producer price index, a gauge of costs at the wholesale level in the U.S. economy, posted an unexpected 0.1% decline in August.

The Bureau of Labor Statistics will release the producer price index on Wednesday, followed by the consumer price index the next day.

The producer price index, a gauge of costs at the wholesale level in the U.S. economy, posted an unexpected 0.1% decline in August.

The producer price index was expected to increase 0.3% in August, according to the Dow Jones consensus estimate.

A key CPI report will offer a snapshot of where the economy is headed as the Fed weighs cutting rates amid rising inflation.