Inflation increased to 2.6% in October, rising modestly from the previous month, according to the Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS).

A rise in prices could make the Federal Reserve less likely to cut its key interest rate in the coming months. But most economists believe inflation will continue its slowdown.

U.S. inflation rose 2.6% on an annual basis last month, representing an uptick from September when the Federal Reserve began cutting interest rates amid signs of cooling prices and a weaker labor market.

Even as inflation has slowed, that progress hasn't reversed a leap in prices that dates back to the pandemic. Since President Joe Biden took office in 2021, consumer prices have s

Price increases in the US picked up last month, as progress toward stabilising prices appeared to stall. Consumer prices rose 2.6% over the 12 months to October, the Labor Department said. That marked a slight uptick from 2.

The annual rate of inflation moved higher last month for the first time since March, as expected — but economists say the underlying trend remains favorable for another round of interest rate cuts.

U.S. inflation rose 2.6% on an annual basis last month, representing an uptick from September when the Federal Reserve began cutting interest rates amid signs of cooling prices and a weaker labor market.

Inflation, as measured by the producer price index, rose six tenths of a percentage point to 2.4% for the year ending in October, the Bureau of Labor Statistics reported Thursday, a troubling sign that inflation pressures remain strong.

Prices were 2.6% higher than a year ago. But wage growth continues to outpace inflation. Also: the history of the federal income tax.