RBI Launches Inflation Survey Across 19 Indian Cities

The Reserve Bank of India (RBI) has launched the September 2025 round of its Inflation Expectations Survey of Households (IESH) across 19 cities in India. This quarterly survey seeks to capture the public’s perception of current and future price movements, providing critical inputs to India’s monetary policy framework.

Purpose and Scope of the Survey

Understanding Inflation Expectations

The IESH helps the RBI gauge how households perceive,

• Current inflation levels
• Expected inflation over the next three months and the next one year
• Price changes in general goods and specific product categories
• By collecting both qualitative and quantitative responses, the survey serves as a key policy tool to understand inflationary trends at the grassroots level.

Cities Covered and Method of Collection

Diverse Regional Representation

The 19 cities selected represent India’s varied geographic and consumption patterns,

• Metro Cities: Mumbai, Delhi, Chennai, Bengaluru, Kolkata, Hyderabad
• State Capitals and Others: Ahmedabad, Bhopal, Bhubaneswar, Chandigarh, Guwahati, Jaipur, Jammu, Lucknow, Nagpur, Patna, Raipur, Ranchi, Thiruvananthapuram

How Data Is Collected

• A Mumbai-based agency has been appointed by RBI to conduct door-to-door data collection
• Households selected for the survey will be approached directly
• Online participation is also available through the RBI website for wider public input

Why This Matters for Policy and Citizens

Inputs for Monetary Policy

The RBI uses the data to fine-tune its inflation-targeting strategy, which plays a crucial role in setting interest rates and shaping the macroeconomic environment. Understanding how households expect prices to change helps policymakers anticipate consumer behavior and adjust economic tools accordingly.

Impact on Everyday Life

Households are asked about price movements in categories such as,

• Essential goods like food, fuel, and medicines
• Services including transport, healthcare, and education
• General perceptions of the cost of living
• These insights are vital for forming a comprehensive picture of inflation from the ground up, beyond statistical indices.