The U.S. Commerce Department released the producer price index figures on Friday. The U.S. producer price index declined 0.4% in October, missing expectations for a 0.2% rise, after a 0.5% drop in September.

On a yearly basis, the producer price index decreased 1.6% in October, missing forecasts of a 1.2% decline, after a 1.1% fall in September. It was the largest decline since 2009.

A stronger U.S. dollar and weak global demand weigh on inflation.

Services prices were down 0.3% in October, while prices for goods declined 0.4%.

Food prices decreased by 0.8% in October, while energy prices were flat.

The producer price index excluding food and energy fell 0.3% in October, missing expectations for a 0.1% gain, after a 0.3% decrease in September.

On a yearly basis, the producer price index excluding food and energy climbed 0.1% in October, missing forecasts of a 0.5% increase, after a 0.8% rise in September.

These figures could mean that the Fed will not start raising its interest rate in December.