The pace of fall, however, was slower than a 0.15 % annual decline forecast by economists in a poll. In December, the index fell a tentative 0.73 percent.
The wholesale fuel costs dropped 9.21 % from a year ago in January, while prices of manufactured goods declined 1.17 % year on year.
Food prices last month, however, gained 6.02 % year-on-year, compared with a provisional 8.17 % gain in December.
