RBI Survey
Households' 1-year-ahead inflation view up 20 bps
This story was originally published at 19:59 IST on 8 August 2024
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MUMBAI - Indian households' expectation of inflation for the one-year-ahead period rose 20 basis points to 10.1%, the bi-monthly inflation expectations survey of households released by the Reserve Bank of India today said.
The three-month-ahead period inflation expectation amongst over 6,000 urban households from 19 major cities also rose by 20 bps to 9.4%. Of those surveyed, a larger share of respondents now expects higher general prices and inflation as compared to the May survey. In the survey, 51.9% of respondents were females.
The consumer confidence survey, another bi-monthly survey released by the RBI today, showed that consumer confidence declined. Amongst over 6,000 people surveyed, sentiment on major parameters, except spending, moderated, leading to a fall in the current situation index to 93.9 in July from 97.1 two months ago.
The survey collects current perceptions as compared to a year ago and one year ahead expectations of households on the general economic situation, employment scenario, overall price situation, own income and spending across 19 major cities. In this round of survey, female respondents accounted for 54.4% of the sample.
The survey showed that households' optimism about economic conditions for the year ahead period came down from the previous round but remained positive. "Lower optimism on the general economic situation, employment and prices led to a 4.1 point moderation in the future expectations index to 120.7 in July 2024," the survey said. End
Reported by Sourabh Kumar
Edited by Vandana Hingorani
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