TOKYO (Dow Jones)--Japan's domestic wholesale prices fell 1.4% in January from the year-earlier month, the Bank of Japan said Friday, marking the 16th consecutive decline and reflecting continued pressure on prices from the global economic slump. Tokyo-based analysts surveyed by Dow Jones forecast the domestic wholesale price index (WPI) fell 1.3% from a year earlier. Sluggish demand also continues to pressure prices domestically as banks saddled with bad loans refrain from new lending and stimulating investment. Increased competition and improved efficiency in certain industries has also pushed domestic prices down by lowering costs.