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

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.

U.S. inflation picked up moderately in August, with prices up 2.9% from a year earlier. The Federal Reserve next meets Sept. 16-17.

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