The consumer price index posted a seasonally adjusted 0.4% increase for the month, double the prior month, putting the annual inflation rate at 2.9%, up 0.2 percentage point from the prior month and the highest reading since January.

On employment, the Labor Department reported a surprise increase in weekly unemployment compensation filings to a seasonally adjusted 263,000 for the week ending Sept. 6, higher than the 235,000 estimate and up 27,000 from the prior period.