The Reserve Bank of India has launched the July 2026 round of its Inflation Expectations Survey of Households, according to a press release issued on July 9, 2026.
The survey, known as IESH, is a regular exercise conducted by the central bank to understand how households view price changes. It records people’s assessment of inflation based on their own consumption baskets, meaning the goods and services they usually buy and pay for.
The RBI uses the survey results as one of the inputs for monetary policy. Household expectations matter because people’s views on future prices can influence saving, spending and wage behaviour. The survey is therefore designed to capture both current perceptions and expectations for the near future.
What the survey will ask
The July 2026 round will collect both qualitative and quantitative responses from households.
Qualitative responses are views expressed in terms of direction or trend. In this part, households will be asked about expected price changes in general prices and in specific product groups. These expectations will be recorded for two future periods: the next three months and the next one year.
Quantitative responses are numerical estimates. In this part, the survey will ask households to provide their views on inflation rates for three points in time: the current period, three months ahead and one year ahead.
By collecting both types of responses, the survey can show whether households expect prices to rise or ease, and also the level of inflation they associate with those expectations.
Cities covered in the July round
The survey will cover 19 cities across India. The cities named by the RBI are:
- Ahmedabad
- Bengaluru
- Bhopal
- Bhubaneswar
- Chandigarh
- Chennai
- Delhi
- Guwahati
- Hyderabad
- Jaipur
- Jammu
- Kolkata
- Lucknow
- Mumbai
- Nagpur
- Patna
- Raipur
- Ranchi
- Thiruvananthapuram
The city list shows that the round includes major metropolitan centres as well as state capitals and other urban centres from different regions of the country.
Who will conduct the survey
The RBI has engaged M/s Hansa Research Group Pvt. Ltd., Mumbai, to conduct this round of the survey on its behalf.
Selected households will be approached by the agency for their responses. The RBI has requested these households to participate and provide the required information. Participation helps the central bank gather a wider picture of how households are experiencing and expecting price changes.
The press release also states that individuals who are not approached by the agency can participate by using the linked survey schedule available with the release. Completed survey schedules may be emailed as per the contact details given by the RBI.
Why this survey is relevant
Inflation expectations are not the same as official inflation data. Official inflation measures are calculated from price data, while this survey captures the views of households. The two can differ because households may focus more on the prices they encounter most often, such as food, fuel, housing-related costs or other regular expenses.
For that reason, the survey is useful as a sentiment and expectations indicator. It helps show how people perceive recent price movements and what they expect over the next three months and one year.
Contact details for queries
For queries or clarifications, the RBI has listed the following contact point: The Director, Division of Household Surveys, Department of Statistics and Information Management, Reserve Bank of India, C-8, 2nd Floor, Bandra-Kurla Complex, Bandra East, Mumbai 400 051.
The phone numbers provided are 022-2657 8398 and 022-2657 8332.
The press release was issued by Ajit Prasad, Deputy General Manager, Communications, under Press Release number 2026-2027/634.
Source: Reserve Bank of India Press Releases.