Monetary policy inputs: RBI launches three key surveys to gauge inflation and sentiment; findings to guide December MPC meet

The Reserve Bank of India (RBI) on Friday announced the launch of the next round of three key surveys — including one on inflation expectations — aimed at providing critical inputs for formulating monetary policy.The November 2025 round of the Inflation Expectations Survey of Households (IESH) will capture households’ subjective assessments of price movements and inflation based on their own consumption baskets across 19 cities, the RBI said in a statement.The Urban Consumer Confidence Survey (UCCS) will collect qualitative responses from urban households on the general economic situation, employment, price levels, income, and spending patterns. Conducted regularly across 19 cities, the survey gauges short-term shifts in consumer sentiment.In parallel, the Rural Consumer Confidence Survey (RCCS) will gather perceptions and one-year-ahead expectations of households in rural and semi-urban areas across 31 states and Union Territories, focusing on employment, income, spending, and price trends.The RBI noted that insights from these surveys serve as valuable inputs for its monetary policy deliberations.The Monetary Policy Committee (MPC) is scheduled to meet for three days starting December 3 to decide the next policy direction.