The Labor Department reported on Wednesday the U.S. producer-price index (PPI) rose 0.4 percent m-o-m in September, following an unrevised 0.3 percent m-o-m gain in August.

For the 12 months through September, the PPI increased 0.4 percent after an unrevised 0.2 percent decline in the previous month. That was the first advance since the 12 months ended in March.

Economists had forecast the headline PPI would increase 0.2 percent both on m-o-m basis and over the past 12 months.

According to the report, nearly two-thirds of the September rise in prices for final demand was attributable to a 0.4-percent m-o-m advance in the index for final demand services. Prices for final demand goods also went up 0.4 percent m-o-m.

Excluding volatile prices for food and energy, the PPI rose 0.4 percent m-o-m and 1.2 percent over 12 months. Economists had forecast gains of 0.2 percent m-o-m and 0.9 percent y-o-y.