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.

Washington — 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.

Spain's European Union-harmonised 12-month inflation rose to 1.8% in October, up from 1.7% in the period through September, final data released by the National Statistics Institute (INE) showed on Thursday.

Higher prices on rent, used cars and air fares contributed to a statistical bump in the Labor Department's measures of inflation, which most affect consumers.

India's wholesale price-based inflation accelerated to a four-month high of 2.36% year on year in October due to elevated food prices, government data released on Thursday showed.

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,

Price increases in the US picked up last month, as progress toward stabilising prices appeared to stall. Consumer prices rose 2.6% over the 12 months to October, the Labor Department said. That marked a slight uptick from 2.