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India's wholesale price inflation eased for a third month and at a faster than expected pace in January, data from the Ministry of Commerce & Industry showed on Thursday.

Wholesale prices climbed 2.76 percent year-on-year in January after a 3.8 percent rise in December. Economists had expected a 3.7 percent increase.

The wholesale price inflation for January 2018 was 3.02 percent.

The build up inflation rate for the financial year so far was 2.49 percent compared to a build up rate of 2.47 percent in the corresponding period of the previous year.

Annual growth in crude petroleum and natural gas group declined by 9.2 percent in January. Prices of primary articles also registered a fall of 0.1 percent.

On a monthly basis, wholesale prices fell by 0.7 percent in January.