Inflation seen at 0.18 pct on March 21

It would be the lowest inflation rate since records started in 1977/78 and comes a little more than seven months after the inflation rate peaked 12.91 percent in early August.

Inflation has fallen sharply as commodity prices plunged due to the deepening global economic and financial crisis.

The median forecast is consistent with the actual price index remaining steady at the previous week’s reading of 227.0.

Madan Sabnavis,economist with National Commodity and Derivatives Exchange,forecast a negative reading in the data,which is due around noon (0630 GMT) on Thursday..

“We are expecting the inflation to move into the negative zone mainly because of prices of agri-commodities,such as gram and mustard,and international metal prices had come down,” he said.