RBI Launches Three Monetary Policy Surveys
The Reserve Bank of India has launched the July 2026 rounds of three household surveys to collect information that will support the formulation of monetary policy.
The surveys include the Inflation Expectations Survey of Households, the Rural Consumer Confidence Survey and the Urban Consumer Confidence Survey. Their findings will provide the central bank with insights into inflation expectations, consumer sentiment, employment, income and household spending.
The Inflation Expectations Survey of Households will be conducted across 19 cities. It seeks households’ views on current price movements and their inflation expectations for the next three months and one year, based on their individual consumption baskets.
Participants will provide both qualitative assessments and numerical estimates relating to general prices and specific product categories. Such expectations are important because household perceptions can influence consumption, saving and wage decisions.
The Rural Consumer Confidence Survey will cover households in rural and semi-urban areas across 31 states and Union Territories. It will assess current perceptions and one-year-ahead expectations regarding the economic situation, employment, prices, income and spending.
The Urban Consumer Confidence Survey will be conducted across 19 cities, including Delhi, Mumbai, Chennai, Bengaluru, Ahmedabad, Chandigarh and Thiruvananthapuram. It will collect similar information from urban households on economic conditions and their financial outlook.
The survey results will be considered alongside inflation, growth and other economic indicators when the Monetary Policy Committee evaluates the policy outlook. The next MPC meeting is scheduled for August 3 to 5, 2026.
