Indians Expect More Unemployment, Inflation in Months Ahead: RBI Survey

New Delhi: Surveys conducted by the Reserve Bank of India (RBI) have found that Indians are feeling marginally less confident about the economy, jobs and rising inflation now than they were two months ago.

“For the year ahead, consumer confidence remained at an elevated level in the optimistic terrain though it declined, albeit marginally, due to relatively tempered sentiments on the general economic situation and employment prospects,” the survey noted.

Source: RBI consumer confidence survey, released June 7, 2024

The household inflation expectations survey revealed that households expect inflation to increase by 20 basis points for the next three months and 10 bps for the next one year.

"A higher share of respondents expected prices and inflation to rise for all major product groups over the next three months as well as one-year periods. Among occupation categories, self-employed respondents group expected highest inflation. At the aggregate level, female respondents had marginally lower inflation assessment and expectations than their male counterparts," The Hindu Business Line reported.

The survey was conducted during May 2-11, 2024 in 19 major cities, with responses from 5,943 urban households. Female respondents accounted for 52.6% of the sample, according to the RBI.

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