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India's wholesale prices fall 2.06 percent year-on-year in February

NEW DELHI (Reuters) - India's wholesale prices declined at a much faster-than-expected pace of 2.06 percent on year in February, their fourth straight monthly fall, on the back of plunging global oil prices, government data showed on Monday.

The data compared with a 0.70 percent year-on-year fall forecast by economists in a Reuters poll and a provisional 0.39 percent decline in January.

The reading for December wholesale price inflation was revised to an annual fall of 0.50 percent from a gain of 0.11 percent earlier.

(Reporting by Rajesh Kumar Singh; Editing by Malini Menon)