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.

WASHINGTON >> U.S. producer prices picked up in October, lifted by higher costs for services like portfolio management and airline fares, another sign that progress towards lower inflation was stalling.

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.