U.S. stock index futures rose on Wednesday on gains in commodity prices and renewed merger and acquisition activity.

U.S. consumer prices rose faster than expected in August from July on a spike in gasoline prices, but the underlying trend indicated muted inflation pressures.

We're in the part of the economic cycle where inflation is not an imminent concern, said Steve Goldman, market strategist at Weeden & Co in Greenwich, Connecticut.

In the latest in a recent M&A flurry, Adobe Systems Inc said it plans to pay $1.8 billion for fast-growing business software maker Omniture Inc as Adobe, the maker of Photoshop and Acrobat looks to turn around declining sales.

Adobe shares fell 5 percent to $33.84 in premarket trading while Omniture shares surged 25 percent to $21.65.

M&A activity is considered a positive sign for the economy as businesses display confidence in their capital positions and begin to spend.

Gold hit an 18-month high and helped lift silver and platinum to multi-month peaks. Freeport McMoRan Copper & Gold Inc shares rose 1.4 percent to $72.30.

S&P 500 futures rose 2.4 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 51 points, and Nasdaq 100 futures gained 7 points.

(Reporting by Chuck Mikolajczak; Additional reporting by Ryan Vlastelica; editing by Jeffrey Benkoe)