RBI launches 3 surveys for inflation, consumer confidence, policy input

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The Reserve Bank on Tuesday launched three key surveys, including inflation expectations, to gather useful inputs for monetary policy decisions.

The RBI normally holds six bi-monthly monetary policy reviews in a financial year. The last meeting was held earlier this month, and the next meeting of the Monetary Policy Committee is scheduled for June 4-6.

The May round of the Inflation Expectations Survey of Households (IESH) aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities.

The central bank said the Urban Consumer Confidence Survey (UCCS) seeks qualitative responses from households, regarding their sentiments on the general economic situation, employment scenario, price level, and households' income and spending. This study, too, will be carried out in 19 cities.

The Rural Consumer Confidence Survey (RCCS) will collect current perceptions and one-year-ahead expectations of households on general economic situation, employment scenario, overall price situation, own income and spending from the households residing in the rural and semi-urban areas across 31 states/ Union Territories.

The Reserve Bank of India has been regularly conducting these surveys.

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