The Reserve Bank of India launched the May 2017 round of inflation expectations survey. The result of this survey, conducted across 18 cities in the country, is used by the RBI as one of the input for policy formation.
“The survey aims at capturing subjective assessments on price movements and inflation, of around 5,500 households, based on their individual consumption baskets, across 18 cities viz., Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram,” the RBI said in a statement.
RBI said that the survey seeks “qualitative” responses from households on price changes (general prices as well as prices of specific product groups) in the three month ahead and in the one year ahead period. Also, it seeks “quantitative” responses on current, three month ahead and one year ahead inflation rates.