Separate figures from the US show that falling oil and petrol prices led to a decline in wholesale prices and retail sales last month.
The Labor Department said wholesale prices tumbled 1.6%, while core prices excluding food and energy were down 0.9%. The producer price index, a gauge of inflation at the factory gate, was lower than Wall Street forecasts for the headline rate to fall 0.5% and the core rate to rise 0.1%.
Energy prices led the way down in October, falling 5% after a slide of 8.4% in September. Prices of raw materials tumbled 10.5% while food prices fell 0.8%.
Easing factory prices should comfort the Federal Reserve, which in August called off a long-running campaign of interest rate hikes.
Meanwhile, the Commerce Department said US retail sales fell 0.2% in October, pulled down by lower petrol prices. The report on retail sales, a key segment of US economic activity, was better than expected on Wall Street, where analysts had forecast a 0.4% decline.
Sales at petrol stations were down 6% in October after an 11% slide in September. Excluding petrol, retail spending was up 0.4% in October.
