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.

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

In October, inflation was above the annual inflation rate of 2.4% in September, and it increased 0.2% on a monthly basis, according to BLS. The cost of housing was the most significant contributor to the monthly increase in October,

U.S. producer prices picked up in October, lifted by higher costs for services like portfolio management and airline fares, more evidence that progress towards lower inflation was stalling. The report from the Labor Department on Thursday followed on the heels of news on Wednesday that consumer inflation had barely budged last month.

Getting inflation back down to 2% is proving to be a grind. Prices paid to producers for their output climbed by 0.2% last month and 2.4% in the 12 months through October, an uptick from the rate in September,

Americans across the U.S. are experiencing vastly different inflation rates depending on where they live, and new Labor Department data shows it was highest in the Northeast.