RBI Unveils Surveys to Gather Public Insights for Informed Monetary Policy Decisions

RBI launches household surveys on inflation expectations and consumer confidence to inform monetary policy decisions, starting with June 5-7 policy meeting. The surveys aim to capture qualitative and quantitative insights on price movements, inflation rates, economic sentiment, and spending habits in 19 major cities across India.

The Reserve Bank of India (RBI) on Monday announced the launch of 'Inflation Expectations Survey of Households' and 'Consumer Confidence Survey' which will provide key inputs for the bi-monthly monetary policy.

The next bi-monthly monetary policy is scheduled during June 5-7, 2024.

The 'Inflation Expectations Survey of Households' aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities, including Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, and Thiruvananthapuram, the RBI said in a release.

The survey on inflation seeks qualitative responses from households on price changes (general prices as well as prices of specific product groups) in the three months ahead as well as in the one-year ahead period. It also seeks quantitative responses on current, three months ahead and one-year ahead inflation rates.

The 'Consumer Confidence Survey' seeks qualitative responses from households, regarding their sentiments on general economic situation, employment scenario, price level, households' income and spending, the central bank said in another release.

It is also conducted in 19 cities, including Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, and Delhi.

The results of the surveys provide useful inputs for monetary policy, the RBI said.

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