How Are Indian Households Viewing Inflation, Jobs, And Spending? RBI Launches Three Surveys

The Reserve Bank of India (RBI) has initiated the November 2026 rounds of its Inflation Expectations Survey of Households (IESH), Urban Consumer Confidence Survey (UCCS) and Rural Consumer Confidence Survey (RCCS). The three studies will collect household responses on inflation, employment, income and spending across urban, rural and semi-urban areas.

The responses will help the central bank assess household expectations before its next bi-monthly monetary policy meeting, scheduled for December 2 to 4, 2026. The three studies are the Inflation Expectations Survey of Households (IESH), Urban Consumer Confidence Survey and Rural Consumer Confidence Survey.

Inflation Survey To Cover 19 Cities

The November round of the IESH will study how households expect prices to move based on their individual consumption baskets. The survey will collect people's views on price movements and inflation, giving the RBI an understanding of expected changes in the cost of goods and services that families regularly purchase.

The exercise will cover Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram.

The responses will help the RBI assess whether households expect prices to rise, fall or stay at similar levels. These expectations are significant to monetary policy as they can influence purchase decisions and household budgets.

Urban Survey For Gauging Income And Spending

The UCCS will collect qualitative responses from households about how they view the economy and personal finances. Participants will be asked about the general economic situation of the country, employment opportunities, price levels of essentials, household income and expenses.

These questions are to help the central bank understand how urban consumers view their current financial position. Their responses will also provide an indication of whether households expect their income and spending capacity to improve or weaken.

The urban survey will be conducted across the same 19 cities covered by the inflation expectations study.

Rural Consumer Survey To Cover 31 States And UTs

The RCCS will focus on households living in rural and semi-urban areas across 31 states and Union Territories. Unlike a survey limited to present conditions, this exercise will collect responses on both current perceptions and expectations for the next 12 months.

The questions will cover the overall economic situation, employment conditions, price movements, household income and spending. This will help the RBI assess how people outside urban centres view their present financial circumstances and what they expect over the coming year.

Findings To Help RBI's Monetary Policy

Household expectations form one part of the information the RBI considers while assessing economic conditions. Inflation expectations can provide an indication of how consumers anticipate changes in their living costs, while confidence surveys offer insight into employment prospects, income and consumption patterns.

Together, the three studies will give the central bank information from different parts of the country. Their findings will be among the inputs available to the RBI ahead of its December 2-4, 2026 monetary policy review.