Consumer prices rose fast enough in October to keep the rate of inflation above the Federal Reserve’s 2% goal, posing an obstacle for the central bank as it weighs how fast to cut U.S. interest rates.

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. 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.