Consumer Price Index inflation increased 0.2% in October for an un-adjusted annual rate of 2.6%, meeting expectations, according to the Bureau of Labor Statistics.

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.

The Consumer Price Index — a broad-based measure of inflation — was 2.0 per cent higher than it was a year ago, up from 1.6 per cent in September. That puts it bang-on the Bank of Canada’s inflation target, but was higher than most economists had expected.

Wholesale Producer Price Index inflation rose 0.2% in October and is up 2.4% annually, according to a Thursday report from the Bureau of Labor Statistics.

Canada's annual inflation rate accelerated more than expected to 2.0% in October as gas prices fell less than the previous month, data showed on Tuesday, shrinking market bets for a bigger rate cut next month.

Canada's annual inflation rate accelerated more than expected to 2.0% in October as gas prices fell less than the previous month, data showed on Tuesday, likely diluting chances of another large rate cut in December.

Canada’s annual inflation rate hit 2 per cent in October, up from 1.6 per cent the month before, Statistics Canada said Tuesday. The rate was slightly above economists’ forecast and was mainly due to gas prices falling less in October than they did in September.

OTTAWA — Statistics Canada is expected to release its October consumer price index report this morning. Economists polled by Reuters expect the annual inflation rate rose to 1.9 per cent last month, according to LSEG Data & Analytics.