The RBI has been regularly conducting the survey. The survey seeks qualitative responses from households on price changes in the next three months as well as in the next one year and quantitative responses on current, three-month ahead and one-year ahead inflation rates.
The results of this survey provide useful inputs to policy formulation. Inflation expectations are subjective assessments of households covered in the survey and are based on their individual consumption baskets.
The central bank also launched the December 2015 round of the Consumer Confidence Survey (CCS). It has been conducting the survey on a quarterly basis since June 2010.
The survey aims at capturing subjective assessments of around 5,400 respondents across six metropolitan cities – Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi.
The survey seeks qualitative responses on questions pertaining to economic conditions, income, spending, perceptions on prices, employment prospects, etc. The results of this survey provide useful inputs to policy formulation.