Wholesale prices, helped by retreating energy costs, fell in January by the largest amount in three months, providing evidence that inflation pressures are moderating, the Associated Press reported.

The U.S. Labor Department reported today that wholesale inflation declined 0.6 percent last month, the largest drop since a 1.8 percent decrease in October.

The improvement came from a 4.6 percent drop in energy costs, reflecting lower prices for gasoline, natural gas and home heating oil. Even outside the volatile energy and food categories, inflation was well contained, with rising a modest 0.2 percent.

Federal Reserve Chairman Ben Bernanke told Congress this week that the central bank believed inflation pressures would gradually recede over the coming two years as the economy expands at a moderate pace.