New Delhi, Nov. 14 -- India's wholesale inflation fell to a 27-month low in October on the back of record low food prices, provisional data from the ministry of commerce & industry showed on Friday.

Wholesale price index (WPI)-based inflation fell to -1.21% annually in October after coming in at 0.13% the previous month. Economists polled by Reuters had projected wholesale prices would fall 0.6% year-on-year in October. A year earlier, WPI inflation stood at 2.75%.

Food inflation, a key driver of the index, turned negative at -5.04% in October, from -1.99% in September, 0.21% in August, -2.15% in July, and -0.26% in June. The fall in wholesale prices in October was led by lower prices of vegetables, wheat, pulses and oilseeds. Prices of...