Inflation Expectations Survey of Households: June 2013 (Round 32)

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પ્રકાશિત તારીખ જુલાઈ 29, 2013

Inflation Expectations Survey of Households: June 2013 (Round 32)

The Inflation Expectations Survey of Households for the April-June 2013 quarter (32nd round) captures the inflation expectations of 4,960 urban households across 16 cities, for the next three-month and the next one-year period. These expectations are based on their individual consumption baskets and hence these rates should not be considered as predictors of any official measure of inflation. The households’ inflation expectations provide useful directional information on near-term inflationary pressures and also supplement other economic indicators to get a better indication of future inflation.

Highlights:

The three-month ahead and one-year ahead median inflation expectation of households remained more or less at a similar level in the June 2013 round as in the previous round.
The proportion of respondents expecting ‘general’ price rise by ‘more than current rate’ has decreased for three-month ahead as well as one-year ahead period.
The proportion of respondents expecting price increase by ‘more than current rate’ in three-month ahead period has diminished for food products and cost of services. For one-year ahead period, the corresponding proportion has diminished for all product-groups (food products, non-food products, household durables, housing and cost of services).
There was no major variation in the inflation expectations across gender, age-group and occupation category of respondents. However, city-wise inflation expectations varied to some extent.
About 65 per cent (62 per cent in the last round) and 73 per cent (71 per cent in the last round) of respondents expect double digit inflation rates for three-month ahead and one-year ahead period, respectively.
On the awareness of the RBI’s action to control inflation and its impact, 56 per cent (63 per cent in the last round) of the respondents were aware of the role of RBI in controlling inflation; 36 per cent (33 per cent in the last round) felt that RBI is taking necessary action. Among these 36 per cent, 49 per cent (44 per cent in the last round) reported that RBI’s action has an impact on controlling inflation.
While 75 per cent of respondents expected that their income/wages would increase in the next one-year period, 21 per cent of respondents expected an increase in next three-month period which is relatively lower as compared with the previous round.

Tables

Table 1: Respondents’ Profile (Category): Share in Total Sample
Category of Respondents	Share in Total (%) (12 Cities)	Share in Total (%) (16 cities)	Target Share (%)
Financial Sector Employees	8.9	9.1	10.0
Other Employees	15.5	15.5	15.0
Self-employed	19.5	19.4	20.0
Housewives	32.9	32.5	30.0
Retired Persons	9.3	9.4	10.0
Daily Workers	8.5	8.6	10.0
Others	5.5	5.6	5.0
Note: The above sample proportion is for the quarter ended June 2013 survey.

Table 2A: Product-wise Expectations of Prices for Three-month ahead and One-year ahead (12 Cities)
(Percentage of respondents)
Round No./Survey period	28	29	30	31	32	28	29	30	31	32
(quarter ended) →	Jun-12	Sep-12	Dec-12	Mar-13	Jun-13	Jun-12	Sep-12	Dec-12	Mar-13	Jun-13
Options: General	Three-month ahead					One-year ahead
Prices will increase	99.0	98.9	98.4	99.3	99.2	99.5	99.1	98.6	98.4	97.8
Price increase more than current rate	83.6	78.9	73.6	65.2	65.5	84.4	86.8	82.1	73.2	67.4
Price increase similar to current rate	11.2	14.5	19.1	28.8	27.4	10.5	7.6	11.6	20.6	22.9
Price increase less than current rate	4.2	5.5	5.7	5.2	6.3	4.6	4.8	4.9	4.7	7.5
No change in prices	1.0	1.1	1.5	0.6	0.8	0.4	0.8	1.2	1.5	2.1
Decline in price	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.1	0.1
Options: Food Product	Three-month ahead					One-year ahead
Prices will increase	98.8	98.8	98.6	99.1	97.9	99.4	99.1	98.6	98.5	97.5
Price increase more than current rate	80.8	78.6	72.9	68.2	66.9	82.5	85.7	80.0	76.3	68.9
Price increase similar to current rate	14.3	15.5	21.1	26.8	25.4	12.6	9.9	14.7	18.2	21.8
Price increase less than current rate	3.7	4.7	4.6	4.2	5.6	4.3	3.5	4.0	4.1	6.9
No change in prices	1.1	1.1	1.3	0.8	1.9	0.5	0.9	1.2	1.4	2.3
Decline in price	0.1	0.2	0.1	0.1	0.2	0.1	0.1	0.2	0.1	0.2
Options: Non-Food Product	Three-month ahead					One-year ahead
Prices will increase	97.8	98.1	96.9	98.8	98.3	99.3	99.0	98.0	98.8	97.4
Price increase more than current rate	72.6	70.0	62.1	58.6	61.2	79.9	80.3	76.2	71.7	66.0
Price increase similar to current rate	20.3	20.5	25.9	32.9	29.3	15.2	13.8	17.6	23.0	24.7
Price increase less than current rate	4.9	7.6	8.9	7.3	7.9	4.2	4.9	4.2	4.1	6.8
No change in prices	2.2	1.9	2.9	1.1	1.6	0.6	1.0	1.9	1.1	2.5
Decline in price	0.2	0.1	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Options: Household Durables	Three-month ahead					One-year ahead
Prices will increase	94.3	86.9	90.7	93.1	90.0	96.3	94.9	96.1	94.4	94.4
Price increase more than current rate	63.5	49.9	48.5	43.7	49.4	66.9	60.9	58.9	54.1	52.3
Price increase similar to current rate	22.4	21.9	29.8	37.1	30.2	18.8	21.6	25.6	30.6	29.5
Price increase less than current rate	8.4	15.1	12.5	12.3	10.4	10.6	12.4	11.6	9.7	12.6
No change in prices	5.1	11.7	8.9	6.5	9.5	3.4	4.7	3.6	5.2	5.5
Decline in price	0.6	1.4	0.4	0.5	0.5	0.4	0.4	0.3	0.5	0.2
Options: Housing Prices	Three-month ahead					One-year ahead
Prices will increase	96.4	94.9	95.9	97.8	97.9	98.9	98.4	97.7	97.8	97.7
Price increase more than current rate	73.0	75.1	69.1	64.0	65.1	76.9	83.5	75.7	70.8	65.5
Price increase similar to current rate	18.3	14.8	19.9	25.8	26.3	16.8	10.7	14.7	21.8	25.0
Price increase less than current rate	5.1	5.0	6.9	8.0	6.5	5.2	4.2	7.3	5.2	7.2
No change in prices	3.2	3.5	4.0	2.1	2.0	0.9	1.5	2.1	2.0	2.3
Decline in price	0.5	1.7	0.1	0.1	0.2	0.2	0.1	0.2	0.2	0.1
Options: Cost of Services	Three-month ahead					One-year ahead
Prices will increase	96.4	93.6	94.6	98.0	96.9	98.1	97.4	96.4	97.0	95.3
Price increase more than current rate	73.0	69.1	68.8	62.0	61.2	74.0	76.5	72.2	65.1	62.3
Price increase similar to current rate	18.3	17.8	19.0	27.3	28.8	18.5	14.5	17.7	26.6	25.2
Price increase less than current rate	5.1	6.7	6.9	8.7	6.9	5.6	6.5	6.5	5.4	7.9
No change in prices	3.2	5.9	5.2	2.0	3.0	2.0	2.5	3.4	3.0	4.5
Decline in price	0.5	0.5	0.2	0.1	0.2	0.1	0.1	0.2	0.1	0.2

Table 2B: Product-wise Expectations of Prices for Three-month ahead and One-year ahead (16 Cities)
(Percentage of respondents)
Round No./Survey period	30	31	32	30	31	32
(quarter ended) →	Dec-12	Mar-13	Jun-13	Dec-12	Mar-13	Jun-13
Options: General	Three-month ahead			One-year ahead
Prices will increase	98.5	99.4	99.1	98.8	98.7	98.2
Price increase more than current rate	75.7	66.9	66.1	84.7	74.8	71.3
Price increase similar to current rate	17.9	24.2	25.6	10.1	17.0	18.7
Price increase less than current rate	4.9	8.2	7.5	4.1	6.9	8.3
No change in prices	1.4	0.5	0.8	1.1	1.2	1.7
Decline in price	0.1	0.1	0.1	0.1	0.1	0.1
Options: Food Product	Three-month ahead			One-year ahead
Prices will increase	98.4	99.2	98.2	98.8	98.8	98.0
Price increase more than current rate	74.4	70.5	67.8	82.5	78.1	72.9
Price increase similar to current rate	19.8	22.8	24.4	12.8	15.9	17.9
Price increase less than current rate	4.2	6.0	6.0	3.5	4.8	7.2
No change in prices	1.4	0.7	1.7	1.1	1.1	1.9
Decline in price	0.2	0.1	0.1	0.1	0.1	0.1
Options: Non-Food Product	Three-month ahead			One-year ahead
Prices will increase	96.7	98.5	97.9	98.1	99.0	97.8
Price increase more than current rate	63.3	58.6	59.0	78.0	71.6	68.2
Price increase similar to current rate	25.3	30.2	29.9	16.0	21.1	21.9
Price increase less than current rate	8.1	9.7	9.0	4.1	6.4	7.8
No change in prices	3.0	1.4	2.1	1.8	0.9	2.1
Decline in price	0.2	0.1	0.1	0.1	0.1	0.1
Options: Household Durables	Three month ahead			One-year ahead
Prices will increase	90.2	93.3	89.6	96.2	95.4	95.1
Price increase more than current rate	50.7	45.0	48.0	61.7	56.3	56.0
Price increase similar to current rate	27.8	34.1	30.0	23.8	27.8	26.1
Price increase less than current rate	11.7	14.2	11.6	10.7	11.3	12.9
No change in prices	9.2	6.3	9.9	3.4	4.2	4.8
Decline in price	0.6	0.4	0.5	0.4	0.4	0.1
Options: Housing Prices	Three-month ahead			One-year ahead
Prices will increase	96.3	96.8	97.4	98.0	98.0	98.0
Price increase more than current rate	72.8	64.5	64.5	79.5	72.4	69.7
Price increase similar to current rate	17.7	22.7	25.3	12.5	19.7	21.5
Price increase less than current rate	5.7	9.6	7.6	6.0	5.9	6.7
No change in prices	3.6	3.1	2.4	1.8	1.8	1.9
Decline in price	0.1	0.1	0.2	0.2	0.1	0.1
Options: Cost of Services	Three-month ahead			One-year ahead
Prices will increase	94.4	97.6	96.0	96.8	97.4	96.1
Price increase more than current rate	68.8	63.8	62.0	73.9	68.6	67.7
Price increase similar to current rate	18.7	24.7	27.1	16.3	23.1	21.1
Price increase less than current rate	6.9	9.1	6.9	6.6	5.7	7.2
No change in prices	5.4	2.3	3.8	3.0	2.5	3.8
Decline in price	0.2	0.1	0.2	0.2	0.1	0.1

Table 3: Expecting General Price Movements in Coherence with Movements in Price Expectations of Various Product Groups: Three-month ahead and One-year ahead
Round No.	Survey Quarter ended	Food	Non-Food	Households durables	Housing	Cost of services
Three-month Ahead period
29 (12 cities)	Sep-12	90.9	86.0	60.5	83.3	81.1
30 (12 cities)	Dec-12	89.0	83.1	66.6	83.6	85.8
31 (12 cities)	Mar-13	84.3	85.6	68.4	79.7	83.3
32 (12 cities)	Jun-13	83.5	87.5	72.0	86.1	85.7
30 (16 cities)	Dec-13	89.5	82.6	67.2	84.2	83.6
31 (16 cities)	Mar-13	85.5	83.7	68.1	80.0	82.5
32 (16 cities)	Jun-13	85.0	83.5	69.6	83.8	83.8
One-year Ahead period
29 (12 cities)	Sep-12	95.9	90.3	69.5	91.0	87.2
30 (12 cities)	Dec-12	95.1	88.2	73.8	88.5	88.4
31 (12 cities)	Mar-13	90.8	89.1	75.8	85.1	85.3
32 (12 cities)	Jun-13	88.3	89.7	76.9	87.1	87.7
30 (16 cities)	Dec-13	95.4	88.2	74.0	89.7	87.2
31 (16 cities)	Mar-13	90.7	88.3	76.9	85.3	85.6
32 (16 cities)	Jun-13	89.9	88.7	77.4	86.8	87.7

Table 4: Household Inflation Expectations -Current, Three-month Ahead and One-year Ahead
Survey Round	Survey Quarter Ended	Inflation rate in Per cent
		Current			Three-month ahead			One-year ahead
		Mean	Median*	Std. Dev.	Mean	Median*	Std. Dev.	Mean	Median*	Std. Dev.
28(12 cities)	Jun-12	11.3	10.2	3.9	12.0	11.4	3.7	12.8	12.7	3.4
29(12 cities)	Sep-12	10.6	9.7	3.8	11.5	10.9	3.6	12.7	13.2	3.5
30 (12 cities)	Dec-12	10.9	10.3	3.4	11.7	11.6	3.5	12.8	13.9	3.7
31 (12 cities)	Mar-13	10.5	10.0	3.5	11.2	10.9	3.5	12.2	12.3	3.6
32 (12 cities)	Jun-13	10.9	10.4	3.7	11.6	11.2	3.5	12.2	12.2	3.8
30 (16 cities)	Dec-12	11.0	10.4	3.4	11.9	11.9	3.4	13.3	14.4	3.4
31 (16 cities)	Mar-13	10.7	10.3	3.7	11.3	11.3	3.6	12.5	13.0	3.6
32 (16 cities)	Jun-13	11.0	10.5	3.9	11.7	11.4	3.7	12.4	12.7	3.8
* : Median values are calculated based on class-interval frequencies.

Table 5 A: Various Group-wise Inflation Expectations for June 2013, Survey Round (12 cities)

	Current			Three-month Ahead			One-year Ahead
	Mean	Median	Std. Dev	Mean	Median	Std. Dev	Mean	Median	Std. Dev
Gender-wise
Male	10.9	10.4	3.7	11.6	11.2	3.5	12.2	12.2	3.7
Female	10.9	10.4	3.8	11.6	11.2	3.5	12.1	12.3	3.9
Category-wise
Financial Sector Employees	10.9	10.4	3.7	11.5	11.1	3.6	12.0	11.8	3.7
Other Employees	10.8	10.4	3.6	11.5	11.3	3.6	12.2	12.3	3.7
Self Employed	10.9	10.4	3.6	11.6	11.2	3.4	12.3	12.3	3.5
Housewives	10.9	10.5	3.8	11.6	11.1	3.5	12.1	12.3	4.0
Retired Persons	10.7	9.9	3.8	11.3	10.8	3.6	11.9	11.6	3.8
Daily Workers	11.5	11.0	3.7	12.0	11.6	3.5	12.4	12.4	3.7
Other category	10.9	10.5	3.5	11.7	11.3	3.3	12.3	12.7	3.9
Age-wise
Up to 25 years	11.0	10.5	3.6	11.8	11.4	3.4	12.3	12.6	3.8
25 to 30 years	11.1	10.6	3.6	11.7	11.4	3.4	12.4	12.5	3.7
30 to 35 years	11.2	10.8	3.8	11.9	11.5	3.4	12.3	12.4	3.7
35 to 40 years	11.0	10.5	3.8	11.6	11.2	3.7	12.1	12.1	3.9
40 to 45 years	10.7	10.3	3.7	11.6	11.1	3.3	12.3	12.4	3.7
45 to 50 years	10.8	10.3	3.8	11.6	11.0	3.6	12.4	12.5	3.8
50 to 55 years	10.7	10.4	3.8	11.2	10.8	3.7	11.5	11.3	4.2
55 to 60 years	11.0	10.6	3.7	11.5	11.2	3.6	12.2	12.3	3.6
60 years and above	10.4	9.7	3.7	11.1	10.7	3.5	11.8	11.5	3.7
City-wise
Mumbai	14.3	16.1	3.0	14.9	16.2	2.7	15.8	16.4	2.0
Delhi	10.8	10.6	3.0	11.6	11.4	2.9	12.6	12.7	2.9
Chennai	10.0	10.0	1.9	10.9	10.9	2.0	9.7	10.6	4.0
Kolkata	7.6	7.1	2.0	8.5	8.6	2.2	8.8	9.0	2.3
Bangalore	13.8	16.2	3.8	14.2	16.2	3.4	14.7	16.2	2.9
Hyderabad	10.4	10.4	4.2	11.8	10.9	4.0	12.9	15.0	4.1
Ahmedabad	8.9	8.7	1.0	10.1	9.9	1.0	13.1	12.6	1.9
Lucknow	10.5	10.4	1.4	10.5	10.5	1.4	10.5	10.5	1.4
Jaipur	10.9	11.5	5.3	11.3	11.8	5.1	12.0	14.9	5.1
Bhopal	7.6	7.8	2.0	8.3	8.5	2.0	9.4	9.7	2.3
Patna	12.5	12.5	0.9	12.5	12.5	0.9	12.7	12.7	1.0
Guwahati	14.7	16.3	3.6	15.4	16.3	2.7	15.9	16.4	1.9
All (12 cities )	10.9	10.4	3.7	11.6	11.2	3.5	12.2	12.2	3.8

Table 5 B:Various Group-wise Inflation Expectations for June 2013 Survey Round (16 cities)
	Current			Three-month Ahead			One-year Ahead
	Mean	Median	Std. Dev	Mean	Median	Std. Dev	Mean	Median	Std. Dev
Gender-wise
Male	10.9	10.5	3.9	11.6	11.3	3.7	12.4	12.5	3.7
Female	11.0	10.5	3.9	11.7	11.5	3.7	12.4	12.8	4.0
Category-wise
Financial Sector Employees	11.0	10.5	3.9	11.6	11.3	3.8	12.2	12.2	3.8
Other Employees	10.9	10.5	3.8	11.6	11.4	3.7	12.4	12.8	3.8
Self Employed	10.9	10.4	3.8	11.6	11.3	3.6	12.5	12.6	3.6
Housewives	11.0	10.6	4.0	11.7	11.5	3.7	12.4	12.8	4.0
Retired Persons	10.7	10.0	4.0	11.4	11.0	3.7	12.1	12.0	3.8
Daily Workers	11.4	11.0	3.9	12.0	11.9	3.7	12.6	12.7	3.8
Other category	10.9	10.4	3.8	11.7	11.5	3.6	12.4	13.0	3.9
Age-wise
Up to 25 years	11.2	10.6	3.8	11.9	11.7	3.6	12.6	13.0	3.8
25 to 30 years	11.2	10.7	3.9	11.8	11.7	3.7	12.5	12.8	3.8
30 to 35 years	11.0	10.7	4.0	11.7	11.4	3.6	12.3	12.5	3.8
35 to 40 years	10.9	10.4	3.9	11.6	11.3	3.8	12.3	12.6	3.9
40 to 45 years	10.8	10.3	3.8	11.6	11.4	3.5	12.6	13.0	3.7
45 to 50 years	11.1	10.5	4.0	11.8	11.5	3.7	12.7	13.1	3.8
50 to 55 years	10.9	10.6	3.8	11.5	11.2	3.7	12.0	12.2	4.2
55 to 60 years	10.9	10.6	4.0	11.5	11.4	3.8	12.2	12.4	3.8
60 years and above	10.6	10.0	3.9	11.3	11.0	3.6	12.1	11.9	3.8
City-wise
Mumbai	14.3	16.1	3.0	14.9	16.2	2.7	15.8	16.4	2.0
Delhi	10.8	10.6	3.0	11.6	11.4	2.9	12.6	12.7	2.9
Chennai	10.0	10.0	1.9	10.9	10.9	2.0	9.7	10.6	4.0
Kolkata	7.6	7.1	2.0	8.5	8.6	2.2	8.8	9.0	2.3
Bangalore	13.8	16.2	3.8	14.2	16.2	3.4	14.7	16.2	2.9
Hyderabad	10.4	10.4	4.2	11.8	10.9	4.0	12.9	15.0	4.1
Ahmedabad	8.9	8.7	1.0	10.1	9.9	1.0	13.1	12.6	1.9
Lucknow	10.5	10.4	1.4	10.5	10.5	1.4	10.5	10.5	1.4
Jaipur	10.9	11.5	5.3	11.3	11.8	5.1	12.0	14.9	5.1
Bhopal	7.6	7.8	2.0	8.3	8.5	2.0	9.4	9.7	2.3
Patna	12.5	12.5	0.9	12.5	12.5	0.9	12.7	12.7	1.0
Guwahati	14.7	16.3	3.6	15.4	16.3	2.7	15.9	16.4	1.9
Thiruvananthapuram	10.8	11.2	2.6	11.9	12.6	2.7	14.4	15.1	2.1
Bhubaneswar	5.8	5.7	1.4	6.7	6.5	1.5	7.6	7.3	1.8
Nagpur	11.7	10.7	4.1	13.0	12.9	3.7	14.6	16.0	3.1
Kolhapur	16.3	16.5	1.0	16.3	16.5	0.9	16.3	16.5	1.1
All	11.0	10.5	3.9	11.7	11.4	3.7	12.4	12.7	3.8

Table 6 A: Cross-tabulation of Current and Three-month Ahead Inflation Expectations (12 cities)
(Number of respondents)
	Three-month ahead inflation rate (per cent)
Current inflation rate (per cent)		<1	1-2	2-3	3-4	4-5	5-6	6-7	7-8	8-9	9-10	10-11	11-12	12-13	13-14	14-15	15-16	>=16	No idea	Total
	<1	2			1		1			1										5
	1-2			1	1		1											1		4
	2-3			9	6	6	4					1					4	1		31
	3-4	1		2	11	5	6	3		1								1		30
	4-5			2	3	28	11	8	5	1		4		1				5	1	69
	5-6			2	2	7	48	45	16	3	5	34	3	1		2	1		3	172
	6-7	3					11	122	100	9	22	13	2	1			1	1	1	286
	7-8				1	2	2	12	38	172	27	14	4	1				3	3	279
	8-9	1		1	1		1	2	3	57	370	43	4	1			1	1	1	487
	9-10		2							6	140	191	32	14	3	7	4	2	5	406
	10-11	1						2			5	175	212	33	8	23	18	3	10	490
	11-12	1					1		2	1	5	15	149	98	16	3	2	4	2	299
	12-13					1	1				1	1	1	159	97	21	2	2	1	287
	13-14	1									2	2	1		65	40	16	3	1	131
	14-15											1	1	3	5	29	53	22	2	116
	15-16								1			3				4	24	51	6	89
	>=16	1						1			5	1	4	2	3		13	727	22	779
	Total	11	2	17	26	49	87	195	165	251	582	498	413	314	197	129	139	827	58	3960
Note: The shaded cells represent the number of respondents who expressed double digit current and three-month ahead inflations.

Table 6 B: Cross-tabulation of Current and Three-month Ahead Inflation Expectations (16 Cities)
(Number of respondents)
	Three-month ahead inflation rate (per cent)
Current inflation rate (per cent)		<1	1-2	2-3	3-4	4-5	5-6	6-7	7-8	8-9	9-10	10-11	11-12	12-13	13-14	14-15	15-16	>=16	No idea	Total
	<1	2			1		1			1										5
	1-2		1	3	4	1	1											1		11
	2-3			9	8	7	4					1					4	1		34
	3-4	1		2	12	26	7	3		1								1		53
	4-5			2	5	33	64	11	5	1		4		1				5	1	132
	5-6			2	2	10	64	113	19	3	5	34	3	1		2	1		3	262
	6-7	3				1	15	144	132	14	25	13	2	1			1	1	1	353
	7-8				1	2	2	14	49	204	34	17	5	1		1		4	3	337
	8-9	1		1	1		1	2	3	64	377	53	8	2			1	1	1	516
	9-10		2							6	149	215	70	30	5	7	4	4	5	497
	10-11	1						2			6	186	227	66	14	25	18	7	10	562
	11-12	1					1		2	1	5	15	155	124	52	3	5	8	2	374
	12-13					1	1				1	1	1	166	124	26	4	3	1	329
	13-14	1									2	2	1	1	73	51	17	6	1	155
	14-15											1	1	3	5	38	61	24	2	135
	15-16								1		1	3				5	29	59	7	105
	>=16	1						1			5	1	7	3	4	4	17	1034	23	1100
	Total	11	3	19	34	81	161	290	211	295	610	546	480	399	277	162	162	1159	60	4960
Note: The shaded cells represent the number of respondents who expressed double digit current and three-month ahead inflations.

Table 7 A: Cross-tabulation of Current and One-year Ahead Inflation Expectations (12 cities)
(Number of respondents)
		One-year ahead inflation rate ( per cent)
Current inflation rate (per cent)		<1	1-2	2-3	3-4	4-5	5-6	6-7	7-8	8-9	9-10	10-11	11-12	12-13	13-14	14-15	15-16	>=16	No idea	Total
	<1	1					1	1				1						1		5
	1-2		1		1		1					1								4
	2-3			6		2	5	4	2		2		2				1	6	1	31
	3-4	1	2	2	8		4	5	1	2		2		1	1			1		30
	4-5	1	1	1	3	16	4	12	6	4	2	6				2	2	7	2	69
	5-6	1			2	2	36	10	43	12	8	23	3	2		9	12	4	5	172
	6-7	2					27	100	27	62	32	20	5	3	1		1	3	3	286
	7-8	8			1	1	2	20	31	33	105	24	16	13	5	6	4	7	3	279
	8-9	12				1	1	5	15	56	48	205	58	51	15	4	9	5	2	487
	9-10	12			1	2		1		17	105	48	86	31	21	27	13	39	3	406
	10-11	12						3	1	1	17	131	41	111	30	32	49	53	9	490
	11-12	8						1	1		2	22	128	34	54	16	13	18	2	299
	12-13	9										2	9	136	33	43	32	22	1	287
	13-14	2				2								5	63	13	24	20	2	131
	14-15	2										1		5		22	12	66	8	116
	15-16	1													3		15	61	9	89
	>=16	2			1		3	2		1	1	2	1		1	4	8	732	21	779
	Total	74	4	9	17	26	84	164	127	188	322	488	349	392	227	178	195	1045	71	3960
Note: The shaded cells represent the number of respondents who expressed double digit current and one-year ahead inflations.

Table 7 B: Cross-tabulation of Current and One-year Ahead Inflation Expectations (16 Cities)
(Number of respondents)
	One-year ahead inflation rate ( per cent)
Current inflation rate (per cent)		<1	1-2	2-3	3-4	4-5	5-6	6-7	7-8	8-9	9-10	10-11	11-12	12-13	13-14	14-15	15-16	>=16	No idea	Total
	<1	1					1	1				1						1		5
	1-2		1	2	1	3	2					2								11
	2-3			6		3	7	4	2		2		2				1	6	1	34
	3-4	1	2	2	8		23	8	1	3		2		1	1			1		53
	4-5	1	1	1	3	19	7	57	13	5	4	8				2	2	7	2	132
	5-6	1			3	2	36	48	83	15	10	24	4	3	2	9	12	5	5	262
	6-7	2					27	102	57	82	32	22	8	10	3	1	1	3	3	353
	7-8	8			1	1	2	20	32	49	112	38	23	18	5	11	4	10	3	337
	8-9	12				1	1	5	15	56	50	209	61	57	20	5	14	8	2	516
	9-10	12			1	2		1		17	106	50	93	37	44	54	26	51	3	497
	10-11	12						3	1	1	18	131	41	116	39	52	69	69	10	562
	11-12	8						1	1		2	22	128	34	56	27	59	34	2	374
	12-13	9										2	9	137	33	46	57	34	2	329
	13-14	2				2							1	5	63	13	38	27	4	155
	14-15	2										1		5		22	14	82	9	135
	15-16	1													3		15	76	10	105
	>=16	2			1		3	2		1	5	2	2	2	1	6	13	1038	22	1100
	Total	74	4	11	18	33	109	252	205	229	341	514	372	425	270	248	325	1452	78	4960
Note: The shaded cells represent the number of respondents who expressed double digit current and one-year ahead inflations.

Table 8 A: Awareness of RBI’s Action on controlling Inflation and its Impact (12 cities)
(Percentage of respondents)
Category	Whether RBI is taking action to control inflation
	Yes				No	No Idea
	Impact of RBI’s action to control inflation
	Yes	No	No Idea	Total
Financial Sector Employees	25.8	27.8	5.4	58.9	12.2	28.9
Other Employees	21.1	18.3	4.4	43.8	18.8	37.4
Self-Employed	17.3	16.3	4.7	38.3	21.0	40.7
Housewives	12.0	9.8	2.2	24.0	20.8	55.2
Retired persons	17.4	22.6	5.4	45.5	16.1	38.4
Daily Workers	11.6	9.5	2.1	23.2	26.7	50.2
Other Categories	18.3	20.1	4.6	42.9	9.6	47.5
All	16.5	15.7	3.7	35.9	19.2	44.9

Table 8 B: Awareness of RBI’s Action on controlling Inflation and its Impact (16 cities)
(Percentage of respondents)
Category	Whether RBI is taking action to control inflation
	Yes				No	No Idea
	Impact of RBI’s action to control inflation
	Yes	No	No Idea	Total
Financial Sector Employees	27.8	26.3	5.6	59.7	12.9	27.4
Other Employees	21.1	17.7	3.9	42.7	19.7	37.6
Self-Employed	19.0	15.7	4.7	39.5	20.3	40.3
Housewives	13.2	9.2	2.3	24.7	21.1	54.2
Retired persons	18.9	20.0	5.6	44.5	17.2	38.3
Daily Workers	12.4	8.9	2.3	23.6	25.9	50.5
Other Categories	18.8	18.1	6.2	43.1	12.3	44.6
All	17.6	14.8	3.8	36.3	19.5	44.2

Table 9 A: Respondents’ Expectation on Change in Wage/Income level (based on 12 cities)
(Percentage of respondents)
Category of Respondents	Change in income since last year			Change in income in three-month ahead period			Change in income in one-year ahead period
Category of Respondents	Increase	Same	Decrease	Increase	Same	Decrease	Increase	Same	Decrease
Financial Sector Employees	52.4	42.8	4.8	26.6	72.2	1.1	83.0	15.6	1.4
Other Employees	46.9	51.3	1.8	22.4	77.0	0.7	79.6	19.4	0.8
Total Employees	48.9	48.2	2.9	23.9	75.2	0.8	80.8	18.0	1.0
Self- Employed	38.5	52.7	8.9	20.9	76.4	2.7	69.1	28.7	2.2
Daily Workers	27.4	63.1	9.5	14.9	82.7	2.4	61.6	35.7	2.7
Total	41.5	52.3	6.2	21.3	76.9	1.8	73.4	24.9	1.7

Table 9 B: Respondents’ Expectation on Change in Wage/Income level (based on 16 cities)
(Percentage of respondents)
Category of Respondents	Change in income since last year			Change in income in three-month ahead period			Change in income in one-year ahead period
Category of Respondents	Increase	Same	Decrease	Increase	Same	Decrease	Increase	Same	Decrease
Financial Sector Employees	52.1	43.7	4.2	26.7	71.9	1.3	84.4	14.5	1.1
Other Employees	47.4	51.2	1.4	22.5	77.0	0.5	80.7	18.5	0.7
Total Employees	49.1	48.4	2.5	24.1	75.1	0.8	82.1	17.0	0.8
Self- Employed	39.3	52.6	8.1	20.3	76.6	3.0	70.2	27.7	2.1
Daily Workers	30.2	61.6	8.2	14.8	82.7	2.6	62.3	35.4	2.3
Total	42.4	52.1	5.5	21.2	76.9	1.9	74.5	24.0	1.5

¹The previous round of the survey data was published on May 2, 2013 with the publication ‘Macroeconomic and Monetary Developments-2012-13’ on the RBI website. The survey results are those of the respondents and are not necessarily shared by the Reserve Bank of India.