US wholesale inflation unexpectedly cooled in December, helped by a drop in food costs and flat services prices that may help temper concerns of lingering price pressures.

India's annual retail inflation in December eased to 5.22% from 5.48% in the previous month as the rate of increase in food price slowed, according to government data released on Monday. Annual retail inflation in December was lower than economists' estimate of 5.

India's wholesale price index (WPI) inflation rose to 2.37 per cent in December, up from 1.89 per cent in November, driven by higher prices of manufactured goods and a low base effect, according to government data released on Tuesday.