The Producer Price Index rose 0.2% M/M in August, faster than the +0.1% expected and accelerating from 0.0% in July (revised from +0.1%), the U.S. Department of Labor said on Thursday.

From a year before, PPI gained 1.7%, slightly trailing the 1.8% increase expected and decelerating from the 2.1% rise in the prior month, which was revised down from +2.2%.

Excluding volatile food and energy prices, core PPI advanced 0.3%, compared with the +0.2% consensus and July's -0.2% decrease (revised from 0.0%).

On a year-over-year basis, core PPI stood at +2.4% in August vs. +2.5% consensus and +2.3% prior (revised from +2.4%).

In all, the wholesale inflation data were mixed, though the notable downward revisions for July underscores a disinflation trend that's welcoming for the Federal Reserve as it gears up to cut interest rates next week. Markets remained confident the central bank's Federal Open Market Committee will reduce borrowing costs by the standard quarter-point increment.

This is a developing story. Check back for updates.