The headline CPI had increased 0.4% in September.
Excluding volatile food and energy prices, the core CPI increased 0.2% and 4%, against the forecast of 0.3% and 4.1%.
However, Fed officials have stressed that they want to see a series of declines in core readings, which has been the case since April.
Traders also took any potential Fed rate hikes almost completely off the table, according to CME Group data.
The flat reading on the headline CPI came as energy prices declined 2.5% for the month, offsetting a 0.3% increase in the food index.
Persons:
Dow Jones, Bryce Doty
Organizations:
Federal Reserve, Labor Department, Dow Jones, Traders, Group
Locations:
U.S