On November 1, the Reserve Bank of India (RBI) introduced two crucial surveys that will contribute vital information for the upcoming bi-monthly monetary policy meeting scheduled during December 6-8. These surveys are the “Inflation Expectations Survey of Households” and the “Consumer Confidence Survey.”
Inflation Expectations Survey of Households
This survey gathers subjective assessments from households regarding price movements and inflation. It focuses on individual consumption baskets and covers 19 cities across India, including Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, and Thiruvananthapuram. The survey seeks qualitative responses from households regarding price changes expected in the upcoming three months and one year. Additionally, it collects quantitative responses on current, three months ahead, and one year ahead inflation rates, as per RBI releases.
Consumer Confidence Survey
The Consumer Confidence Survey collects responses from households about their sentiments concerning various economic aspects, including the general economic situation, employment scenario, price levels, household income, and spending. This survey is conducted in 19 cities, which include Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, and Delhi.
The outcomes of these surveys provide valuable insights that will inform the decision-making process of the RBI’s monetary policy. These surveys help in understanding households’ expectations and consumer confidence, which play a significant role in shaping the overall economic landscape.
These initiatives reflect the RBI’s commitment to engaging with and considering the perspectives of households and consumers when shaping monetary policy decisions.
The surveys will provide a deeper understanding of household inflation expectations and consumer sentiment, which are key factors for RBI’s monetary policy formulation.
