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The Reserve Bank of India (RBI) in its ‘Inflation expectations survey of households (IESH) - November 2023’ has showed that households expect some rise in price and inflationary pressures across major product groups for the year ahead. The survey was conducted during November 2-11, 2023 in 19 major cities, with responses from 6,036 urban households. 

The survey further showed that households’ perception on current inflation declined by 20 basis points (bps) from the previous survey round to 8.2 per cent in November 2023. Besides, median inflation expectation remained stable for the three months ahead period at 9.1 per cent, but it increased for one year horizon by 20 bps to 10.1 per cent in November 2023.

As per the report, expectations regarding overall prices and inflation over the next three months were more aligned with those of food products and services; for the year ahead, such alignment is more pronounced with the prospects for food products and housing segments.