India's wholesale prices fall 0.39 per cent in January

Mumbai: India's wholesale prices declined an annual 0.39 per cent in January, their second fall in three months, on the back of a sharp correction in oil prices, government data showed on Monday.

The data compared with a 0.4 per cent year-on-year gain forecast by economists in a Reuters poll and a provisional 0.11 percent jump in December.

The reading for November wholesale price inflation was revised to -0.17 percent from 0.0 per cent earlier.

Fuel and power inflation declined by 10.69 per cent in January as compared to an increase of 9.82 per cent in the corresponding period of 2014.