The October producer price index fell 0.2% and the core rate also declined 0.2%, the Labor Department reported Wednesday.
The September numbers were unrevised from the originally reported 1.1% rise in the headline number and an unchanged core rate.
Economists polled by Thomson Reuters expected a 0.2% rise in the headline number and a 0.1% core increase.
Food prices rose 0.4% in the month, while energy prices fell 0.5%.
Intermediate goods dipped 0.1%, while core intermediate goods prices were unchanged.