RBI launches key surveys to get inputs for monetary policy

The Reserve Bank on Tuesday launched three key surveys to gauge inflation expectations and consumer confidence in the country and gather key inputs for its monetary policy.

The next bi-monthly monetary policy is scheduled to be announced on October 7.

The September round of the Inflation Expectations Survey of Households (IESH) is aimed at capturing subjective assessments on price movements and inflation, based on individual consumption baskets, across 19 cities. The Urban Consumer Confidence Survey (UCCS) seeks qualitative responses from households about their sentiments on the general economic situation, employment scenario, price level, households’ income and spending. This study too will be conducted across 19 cities.

The central bank also announced the launch of the Rural Consumer Confidence Survey (RCCS). It is aimed at collecting current perceptions and one-year-ahead expectations of households on the general economic situation, employment scenario, overall price situation, own income and spending in the rural and semi-urban areas across 31 states/UTs.

The 19 cities are Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram.