US Producer Prices Rise 0.4% in August Amid Energy Cost Rebound

US producer prices rose in line with expectations in August as energy costs rebounded, keeping inflation pressures elevated ahead of the Federal Reserve's policy meeting next week.

The Producer Price Index for final demand increased 0.4% last month after an upwardly revised 0.1% gain in July, the Labor Department's Bureau of Labor Statistics said on Thursday.

Economists polled by Reuters had expected a 0.4% rise after July's previously unchanged reading.

On a 12-month basis, producer prices climbed 5.4% in August, accelerating from a 4.8% increase in July.