JAPAN WHOLESALE PRICES FALL 0.1 PCT IN FEBRUARY Japan's overall wholesale price index (base 1980) fell 0.1 pct in February from a month earlier to 86.4 for the second consecutive month-on-month fall, the Bank of Japan said. Wholesale prices fell 0.6 pct in January from December. The index fell 9.1 pct from a year earlier for the 21st straight year-on-year drop, the central bank said. The reduced month-on-month drop mainly stemmed from the recovery in world crude oil prices, it said. On a customs-cleared basis, crude oil prices rose to around 17 dlrs a barrel in February from about 15 dlrs in January. The average value of the yen against the dollar rose 0.8 pct to 153.50 in February from 154.67 in January and was up 16.8 pct from 184.55 a year earlier, the bank said. The export price index in February fell 0.7 pct from a month earlier reflecting price cuts in export products like cars and precision instruments due to severe foreign competition. The index was down 7.1 pct from a year earlier. The import price index rose 1.1 pct from a month earlier to 57.4 for the sixth successive month-on-month gain mainly due to the continued strength of world crude oil prices. But the index was down 29 pct from a year earlier. The domestic price index fell 0.1 pct to 91.9 in February, its 24th straight monthly drop, mainly reflecting falls in prices of home appliances such as colour televisions due to severe sales competition at home. Lower edible oil prices added to the decline. The index was down 6.7 pct from a year earlier. The domestic index marked its largest year-on-year drop of 7.1 pct in January since the central bank started compiling such statistics in 1960 under its current system. Wholesale prices are likely to turn upward in March as higher world crude oil and raw material prices are expected, the bank said.