"The further rise in core CPI inflation to an 11-year high of 2.4% in August won't stop the Fed from cutting interest rates again next week," said Andrew Hunter, Senior U.S. He added, "But it does provide further reason to believe that market expectations of significant further easing will ultimately be disappointed." A separate report released by the Labor Department on Wednesday showed a modest uptick in U.S. producer prices in the month of August.