Wholesale prices fall for 15th straight month in January

Wholesale prices fell for a 15th straight month in January, declining an annual 0.90 percent, driven down by tumbling oil prices, government data showed on Monday

business Updated: Feb 17, 2016 08:26 IST
WPI,Inflation,January
Wholesale prices fell for a 15th straight month in January, declining an annual 0.90 percent, driven down by tumbling oil prices(REUTERS)

Wholesale prices fell for a 15th straight month in January, declining an annual 0.90 percent, driven down by tumbling oil prices, government data showed on Monday.

The pace of fall, however, was slower than a 0.15 percent annual decline forecast by economists in a Reuters poll. In December, the index fell a provisional 0.73 percent.

The wholesale fuel prices dropped 9.21 percent from a year ago in January, while prices of manufactured goods declined 1.17 percent year on year.

Food prices last month, however, gained 6.02 percent year-on-year, compared with a provisional 8.17 percent gain in December.

First Published: Feb 15, 2016 12:52 IST