The Labor Department on Wednesday reported that consumer prices in October rose 2.6% from a year earlier. That marks a pickup in the pace of inflation from September, when prices were up 2.4% on the year.

US inflation accelerated in October from the pace it set a month earlier — raising doubts whether the Federal Reserve will continue to cut interest rates before the end of the year. The Consumer Price Index rose 2.

Annual inflation may have risen in October for the first time in seven months, a sign that price increases might be leveling off after steadily cooling for more than two years. Consumer prices are thought to have increased 2.