Data revealed Wednesday morning showed U.S. inflation at the wholesale level increased 0.2% in September, making up for an unexpected decline in August and, thus, more in line with expectations.
Figures released by the U.S. Labor Department revealed a rise in services prices offset a slight drop in prices for goods. Final demand prices had fallen 0.1% in August. In the 12 months through September, the producer price index rose 2.6%, slightly less than expected.
Economists had forecast the Producer Price Index increasing 0.2% in September and advancing 2.8% year-on-year.
A key gauge of underlying producer price pressures that excludes food, energy and trade services rose 0.4% last month, the largest increase since January. The so-called core PPI had risen 0.1% in August.
