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Reserve Bank of India has initiated three key surveys, including the inflation expectations survey of households, to gather inputs for upcoming monetary policy decisions. The May 2026 round covers 19 cities and captures household views on price trends over the near and medium term. Alongside this, the central bank has rolled out urban and rural consumer confidence surveys to assess economic sentiment, employment outlook, and spending patterns. The findings are expected to inform deliberations of the Monetary Policy Committee, scheduled to meet in the coming weeks, as the central bank evaluates inflation trends and broader economic conditions.
Reserve Bank of India has launched three surveys in the past week, including the inflation expectations survey of households, as part of its data-gathering exercise ahead of the upcoming monetary policy review. The surveys are intended to capture consumer sentiment and inflation outlook, which serve as inputs for policy formulation. Advertisement
The inflation expectations survey of households for May 2026 aims to assess perceptions on price movements based on individual consumption patterns. The exercise collects both qualitative and quantitative responses from households, covering current inflation estimates as well as expectations for the next three months and one year. It also seeks feedback on changes in general prices and specific product categories.
The survey is being conducted across 19 cities, including Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi, and Thiruvananthapuram.
In parallel, the central bank has also initiated the May rounds of its urban and rural consumer confidence surveys. The urban consumer confidence survey, conducted regularly in the same set of cities, evaluates perceptions on economic conditions, employment trends, income levels, spending behaviour, and price situations.
The rural consumer confidence survey extends this assessment to households in rural and semi-urban areas across 31 states and Union Territories. It captures both current sentiment and one-year-ahead expectations regarding the overall economic environment, employment prospects, income levels, and consumption patterns.
According to the RBI, the results of these surveys provide important inputs for monetary policy formulation by offering insights into household behaviour and inflation expectations. These indicators are considered alongside macroeconomic data while determining policy rates and other measures.
The surveys have been initiated ahead of the next meeting of the Monetary Policy Committee, which is scheduled to take place in early June. The rate-setting panel is expected to review inflation trends, economic growth indicators, and financial conditions while deciding on policy direction.
The data gathered through these surveys will contribute to the RBI’s assessment of inflation dynamics and consumer sentiment, forming part of its broader analytical framework for policy decisions.
Source - PTI
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