RBI's Three Surveys

RBI launched three surveys to gather household inputs for monetary policy.

1. IESH

Inflation Expectations Survey of Households

Measures household expectations about:

• Current inflation
• 3-month-ahead inflation
• 1-year-ahead inflation.

2. RCCS

Rural Consumer Confidence Survey

Covers:

• Economic conditions
• Employment
• Prices
• Income
• Spending.

3. UCCS

Urban Consumer Confidence Survey

Similar parameters for urban households.

Coverage

• IESH → 19 cities
• RCCS → 31 States/UTs
• UCCS → 19 cities

Why Important?

These surveys provide inputs to the Monetary Policy Committee (MPC).

Prelims

RBI → household inflation expectations + consumer confidence → monetary policy inputs