The Reserve Bank of India has announced key surveys on rural and urban consumer confidence and inflation expectations with the aim of collecting qualitative data, which will help capture the consumer sentiment over the employment scenario and price situations. 

The central bank said that the results of these will be useful for the RBI’s monetary policy. The announcement comes just one month ahead of RBI’s MPC meeting, which is scheduled for October 4. 

RBI: Inflation Expectations Survey of Households

The September round of the Inflation Expectations Survey of Households (IESH), is being conducted across nineteen cities to capture subjective assessments of price movements and inflation. 

The inflation survey will be based on the individual consumption baskets of the respondents. IESH will collect quantitative data on household price fluctuations, including general prices and prices of specific commodities. This will include price changes in the next three months as well as in the one-year period ahead. 

The survey will also include quantitative responses on current, three months ahead, and one year ahead inflation rates. 

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RBI: Urban consumer confidence survey 

The urban consumer confidence survey (UCCS), September round, will aim to collect qualitative data from households on their sentiment about the general economic situation. This also includes the current employment landscape, price level, household income, and spending. 

UCCS will also be conducted in nineteen cities

RBI: Rural consumer confidence survey

Similar to UCCS, RBI’s September Rural Consumer Confidence Survey (RCCS) will collect current and one-year-ahead views of households on the general economic situation, including employment, price situation, income level, and spending. 

However, this survey will be conducted in thirty-one states/union territories. 

Who will manage the surveys?

IESH and UCCS will be conducted by the Mumbai-based agency, M/S Hansa Research Group, on behalf of the central bank. Selected households will be approached by the agency. 

While Ipsos Research Private, a Gurugram-based agency, will conduct the RCCS survey. 

Can you participate?

If you are not contacted by the mentioned agency and wish to participate in the survey, you can go to the RBI’s website, check the press release option, and click on the link mentioned in the release to fill out your response. The survey can also be emailed to the contact mentioned in the notification.