Today, the Reserve Bank released the results of the March 2019 round of the Inflation Expectations Survey of Households (IESH)1. The survey was conducted in 18 major cities and the results are based on responses from 5,829 urban households. Highlights: i. The three months ahead and one year ahead median inflation expectations of households dropped by 40 basis points (bps) each relative to the last survey round conducted in December 2018 (Chart 1a, 1b, Table 2). ii. On a cumulative basis, median inflation expectations came down by 160 basis points for the three months ahead horizon and by 170 basis points for the one year ahead horizon from the September 2018 round. iii. The gap between households’ current inflation perceptions and their future expectations has also narrowed in this round of the survey. Note: Please see the excel file for time series data. iv. The proportion of respondents expecting prices of food, non-food products and consumer durables to rise in the next three months increased as compared with the December 2018 round (Table 1a). v. The improvement in households’ qualitative expectations on changes in the price level as reported in the December 2018 round over the next one year was sustained. vi. A smaller proportion of respondents believed that prices will rise at more than the current rate over the year ahead horizon, reflecting mainly their sentiments with respect to food prices and the cost of housing. Table 1(a): Product-wise Expectations of Prices for Three Months ahead | (Percentage of Respondents) | Survey period ended | Mar-18 | Sep-18 | Nov-18 | Dec-18 | Mar-19 | General | | Estimate | SE | Estimate | SE | Estimate | SE | Estimate | SE | Prices will increase | 80.2 | 80.4 | 0.92 | 77.9 | 0.91 | 72.9 | 1.04 | 74.8 | 1.02 | Price increase more than current rate | 45.4 | 49.1 | 1.15 | 47.4 | 1.12 | 46.2 | 1.14 | 44.1 | 1.08 | Price increase similar to current rate | 27.2 | 27.6 | 1.00 | 25.6 | 1.00 | 23.3 | 0.96 | 26.9 | 0.97 | Price increase less than current rate | 7.5 | 3.7 | 0.38 | 4.9 | 0.59 | 3.4 | 0.39 | 3.8 | 0.41 | No changes in prices | 17.8 | 17.4 | 0.88 | 19.2 | 0.87 | 21.2 | 0.98 | 21.9 | 0.98 | Decline in prices | 2.1 | 2.2 | 0.31 | 2.9 | 0.33 | 5.8 | 0.46 | 3.4 | 0.36 | Food Product | | | | | | | | | | Prices will increase | 79.6 | 79.5 | 0.89 | 77.2 | 0.89 | 70.7 | 0.98 | 73.7 | 0.96 | Price increase more than current rate | 44.0 | 48.9 | 1.12 | 46.4 | 1.03 | 42.7 | 1.08 | 43.6 | 1.06 | Price increase similar to current rate | 24.9 | 24.5 | 0.91 | 23.6 | 0.91 | 22.4 | 0.87 | 24.1 | 0.88 | Price increase less than current rate | 10.7 | 6.1 | 0.48 | 7.3 | 0.63 | 5.7 | 0.48 | 6.0 | 0.49 | No changes in prices | 15.4 | 15.5 | 0.82 | 16.9 | 0.81 | 17.2 | 0.79 | 17.5 | 0.84 | Decline in prices | 5.0 | 4.9 | 0.40 | 5.9 | 0.46 | 12.0 | 0.65 | 8.8 | 0.56 | Non- Food Product | | | | | | | | | | Prices will increase | 75.0 | 78.9 | 0.87 | 75.8 | 0.90 | 67.6 | 1.00 | 71.3 | 0.94 | Price increase more than current rate | 39.6 | 47.5 | 1.11 | 45.2 | 1.07 | 40.8 | 1.08 | 41.0 | 1.02 | Price increase similar to current rate | 25.4 | 25.3 | 0.91 | 24.1 | 0.94 | 21.6 | 0.89 | 24.5 | 0.86 | Price increase less than current rate | 10.0 | 6.1 | 0.48 | 6.5 | 0.61 | 5.3 | 0.47 | 5.7 | 0.48 | No changes in prices | 20.8 | 17.1 | 0.81 | 18.5 | 0.79 | 20.5 | 0.85 | 21.9 | 0.87 | Decline in prices | 4.2 | 4.0 | 0.38 | 5.8 | 0.48 | 11.9 | 0.63 | 6.8 | 0.47 | Household Durables | | | | | | | | | | Prices will increase | 63.7 | 56.6 | 1.05 | 57.9 | 1.06 | 56.8 | 1.08 | 59.5 | 1.05 | Price increase more than current rate | 34.7 | 32.4 | 1.05 | 33.8 | 1.03 | 34.8 | 1.08 | 35.2 | 0.99 | Price increase similar to current rate | 20.7 | 19.5 | 0.80 | 18.9 | 0.80 | 17.9 | 0.85 | 19.3 | 0.79 | Price increase less than current rate | 8.3 | 4.7 | 0.41 | 5.2 | 0.50 | 4.1 | 0.39 | 5.0 | 0.41 | No changes in prices | 26.2 | 30.8 | 0.98 | 29.7 | 0.98 | 24.8 | 0.91 | 27.7 | 0.96 | Decline in prices | 10.1 | 12.5 | 0.66 | 12.4 | 0.66 | 18.4 | 0.77 | 12.8 | 0.62 | Cost of Housing | | | | | | | | | | Prices will increase | 70.0 | 67.1 | 0.92 | 68.7 | 0.96 | 69.1 | 1.03 | 68.1 | 0.98 | Price increase more than current rate | 43.9 | 45.2 | 1.02 | 44.5 | 1.05 | 46.5 | 1.06 | 44.2 | 0.97 | Price increase similar to current rate | 18.8 | 17.9 | 0.78 | 19.0 | 0.83 | 18.2 | 0.79 | 19.5 | 0.76 | Price increase less than current rate | 7.3 | 4.0 | 0.40 | 5.2 | 0.51 | 4.5 | 0.41 | 4.4 | 0.41 | No changes in prices | 22.4 | 24.1 | 0.87 | 23.7 | 0.88 | 22.2 | 0.94 | 22.4 | 0.88 | Decline in prices | 7.7 | 8.8 | 0.59 | 7.6 | 0.54 | 8.6 | 0.57 | 9.5 | 0.60 | Cost of Services | | | | | | | | | | Prices will increase | 70.2 | 67.7 | 1.04 | 68.2 | 0.99 | 65.7 | 1.10 | 66.4 | 1.02 | Price increase more than current rate | 38.3 | 41.8 | 1.15 | 40.4 | 1.06 | 40.2 | 1.11 | 39.2 | 1.00 | Price increase similar to current rate | 23.5 | 21.0 | 0.89 | 22.4 | 0.86 | 21.2 | 0.82 | 21.9 | 0.84 | Price increase less than current rate | 8.3 | 5.0 | 0.43 | 5.3 | 0.48 | 4.3 | 0.41 | 5.3 | 0.45 | No changes in prices | 26.6 | 29.6 | 1.01 | 28.8 | 0.97 | 28.2 | 1.02 | 28.9 | 0.99 | Decline in prices | 3.3 | 2.7 | 0.33 | 3.0 | 0.35 | 6.1 | 0.45 | 4.7 | 0.42 | 1. The table provides estimates and standard errors for qualitative responses from the September 2018 round onwards. For earlier rounds, the results are based on sample proportions. | 2. Constituent items may not add up to the corresponding total, due to rounding off. | Table 1(b): Product-wise Expectations of Prices for One Year ahead | (Percentage of Respondents) | Survey period ended | Mar-18 | Sep-18 | Nov-18 | Dec-18 | Mar-19 | General | | Estimate | SE | Estimate | SE | Estimate | SE | Estimate | SE | Prices will increase | 90.8 | 88.3 | 0.77 | 89.7 | 0.65 | 83.8 | 0.82 | 84.4 | 0.90 | Price increase more than current rate | 56.7 | 59.7 | 1.15 | 60.0 | 1.11 | 57.5 | 1.15 | 54.6 | 1.08 | Price increase similar to current rate | 28.0 | 25.3 | 0.97 | 26.4 | 0.97 | 23.3 | 1.00 | 26.6 | 0.93 | Price increase less than current rate | 6.2 | 3.3 | 0.35 | 3.4 | 0.43 | 3.0 | 0.37 | 3.2 | 0.38 | No changes in prices | 7.1 | 9.1 | 0.69 | 7.6 | 0.57 | 11.3 | 0.73 | 12.6 | 0.83 | Decline in prices | 2.2 | 2.6 | 0.32 | 2.7 | 0.33 | 4.9 | 0.43 | 3.0 | 0.33 | Food Product | | | | | | | | | | Prices will increase | 85.0 | 84.8 | 0.78 | 85.4 | 0.73 | 80.0 | 0.82 | 80.1 | 0.87 | Price increase more than current rate | 47.4 | 52.5 | 1.16 | 52.3 | 1.14 | 50.6 | 1.08 | 47.2 | 1.06 | Price increase similar to current rate | 28.9 | 27.0 | 0.96 | 27.5 | 0.96 | 24.7 | 0.93 | 28.0 | 0.88 | Price increase less than current rate | 8.7 | 5.3 | 0.45 | 5.7 | 0.51 | 4.7 | 0.43 | 5.0 | 0.44 | No changes in prices | 10.2 | 9.7 | 0.64 | 9.4 | 0.60 | 12.1 | 0.68 | 14.0 | 0.76 | Decline in prices | 4.8 | 5.5 | 0.45 | 5.2 | 0.45 | 7.9 | 0.52 | 5.9 | 0.45 | Non- Food Product | | | | | | | | | | Prices will increase | 80.0 | 82.3 | 0.79 | 82.4 | 0.78 | 76.4 | 0.92 | 78.2 | 0.89 | Price increase more than current rate | 44.2 | 51.0 | 1.18 | 51.6 | 1.10 | 47.5 | 1.09 | 45.7 | 1.05 | Price increase similar to current rate | 26.8 | 26.1 | 0.91 | 25.2 | 0.90 | 24.2 | 0.92 | 27.5 | 0.89 | Price increase less than current rate | 9.0 | 5.2 | 0.44 | 5.6 | 0.50 | 4.7 | 0.43 | 5.0 | 0.41 | No changes in prices | 15.8 | 13.1 | 0.70 | 12.7 | 0.68 | 15.8 | 0.78 | 16.9 | 0.80 | Decline in prices | 4.3 | 4.6 | 0.40 | 4.9 | 0.43 | 7.7 | 0.54 | 5.0 | 0.41 | Household Durables | | | | | | | | | | Prices will increase | 71.1 | 67.5 | 0.97 | 70.1 | 0.98 | 66.9 | 1.02 | 68.3 | 0.99 | Price increase more than current rate | 40.1 | 40.7 | 1.10 | 43.0 | 1.10 | 42.0 | 1.09 | 41.3 | 1.02 | Price increase similar to current rate | 23.4 | 22.0 | 0.83 | 22.0 | 0.88 | 20.4 | 0.84 | 22.6 | 0.81 | Price increase less than current rate | 7.7 | 4.8 | 0.42 | 5.1 | 0.47 | 4.5 | 0.40 | 4.4 | 0.41 | No changes in prices | 19.9 | 22.6 | 0.84 | 20.4 | 0.85 | 20.1 | 0.91 | 21.9 | 0.89 | Decline in prices | 9.0 | 10.0 | 0.58 | 9.6 | 0.61 | 13.0 | 0.69 | 9.8 | 0.57 | Cost of Housing | | | | | | | | | | Prices will increase | 80.2 | 77.9 | 0.89 | 80.6 | 0.79 | 79.6 | 0.85 | 77.6 | 0.86 | Price increase more than current rate | 50.9 | 52.9 | 1.08 | 53.8 | 1.04 | 55.9 | 1.00 | 51.0 | 1.01 | Price increase similar to current rate | 22.5 | 21.0 | 0.87 | 22.5 | 0.91 | 19.8 | 0.78 | 22.9 | 0.77 | Price increase less than current rate | 6.8 | 4.0 | 0.38 | 4.3 | 0.44 | 3.9 | 0.39 | 3.8 | 0.36 | No changes in prices | 13.9 | 15.1 | 0.74 | 13.3 | 0.68 | 13.7 | 0.74 | 15.2 | 0.75 | Decline in prices | 5.9 | 7.0 | 0.52 | 6.1 | 0.50 | 6.7 | 0.50 | 7.2 | 0.53 | Cost of Services | | | | | | | | | | Prices will increase | 82.6 | 82.0 | 0.81 | 83.3 | 0.75 | 77.9 | 0.88 | 78.8 | 0.87 | Price increase more than current rate | 45.3 | 49.7 | 1.18 | 52.2 | 1.11 | 49.0 | 1.11 | 47.5 | 1.02 | Price increase similar to current rate | 28.6 | 27.3 | 0.96 | 25.7 | 0.92 | 24.1 | 0.90 | 26.4 | 0.87 | Price increase less than current rate | 8.7 | 5.0 | 0.44 | 5.4 | 0.48 | 4.8 | 0.44 | 4.8 | 0.42 | No changes in prices | 14.9 | 15.6 | 0.76 | 13.5 | 0.68 | 17.1 | 0.82 | 17.4 | 0.81 | Decline in prices | 2.5 | 2.4 | 0.29 | 3.1 | 0.34 | 5.0 | 0.44 | 3.9 | 0.37 | 1. The table provides estimates and standard errors for qualitative responses from the September 2018 round onwards. For earlier rounds, the results are based on sample proportions. | 2. Constituent items may not add up to the corresponding total, due to rounding off. | Table 2: Inflation Expectations of Various Groups: March 2019 | | Current Perception | Three Months ahead Expectation | One Year ahead Expectation | Mean | Median | Mean | Median | Mean | Median | Estimate | SE | Estimate | SE | Estimate | SE | Estimate | SE | Estimate | SE | Estimate | SE | Overall | 8.0 | 0.09 | 6.9 | 0.14 | 8.7 | 0.10 | 7.8 | 0.12 | 8.3 | 0.12 | 8.1 | 0.17 | Gender-wise | | | | | | | | | | | | | Male | 7.9 | 0.13 | 7.0 | 0.18 | 8.6 | 0.13 | 7.7 | 0.16 | 8.2 | 0.16 | 7.9 | 0.20 | Female | 8.1 | 0.13 | 7.1 | 0.18 | 9.0 | 0.13 | 8.2 | 0.17 | 8.6 | 0.16 | 8.5 | 0.21 | Category-wise | | | | | | | | | | | | | Financial Sector Employees | 7.4 | 0.61 | 6.1 | 0.48 | 8.1 | 0.82 | 6.5 | 0.56 | 8.1 | 0.81 | 7.6 | 0.75 | Other Employees | 8.2 | 0.18 | 7.1 | 0.22 | 8.8 | 0.19 | 7.9 | 0.21 | 8.3 | 0.23 | 8.1 | 0.33 | Self Employed | 7.6 | 0.19 | 6.7 | 0.30 | 8.3 | 0.20 | 7.4 | 0.22 | 7.9 | 0.24 | 7.8 | 0.28 | Homemaker | 8.2 | 0.14 | 7.1 | 0.20 | 9.1 | 0.15 | 8.3 | 0.19 | 8.8 | 0.19 | 8.7 | 0.24 | Retired Persons | 8.2 | 0.30 | 7.5 | 0.25 | 8.9 | 0.32 | 8.2 | 0.46 | 8.6 | 0.43 | 8.4 | 0.55 | Daily Workers | 8.1 | 0.22 | 7.1 | 0.28 | 9.0 | 0.22 | 8.1 | 0.31 | 8.5 | 0.28 | 8.5 | 0.47 | Other category | 7.5 | 0.23 | 6.3 | 0.28 | 8.2 | 0.23 | 7.3 | 0.24 | 7.9 | 0.28 | 7.7 | 0.33 | Age Group-wise | | | | | | | | | | | | | Up to 25 years | 7.3 | 0.15 | 6.1 | 0.18 | 7.9 | 0.17 | 7.0 | 0.23 | 7.5 | 0.22 | 7.3 | 0.32 | 25 to 30 years | 8.0 | 0.19 | 6.8 | 0.28 | 8.8 | 0.19 | 7.9 | 0.23 | 8.4 | 0.23 | 8.3 | 0.27 | 30 to 35 years | 7.9 | 0.19 | 6.8 | 0.26 | 8.7 | 0.19 | 7.9 | 0.25 | 8.5 | 0.24 | 8.3 | 0.33 | 35 to 40 years | 8.1 | 0.20 | 7.1 | 0.24 | 8.8 | 0.20 | 8.0 | 0.27 | 8.5 | 0.24 | 8.4 | 0.33 | 40 to 45 years | 7.9 | 0.22 | 6.9 | 0.33 | 8.7 | 0.23 | 7.8 | 0.26 | 8.2 | 0.26 | 7.9 | 0.35 | 45 to 50 years | 8.3 | 0.21 | 7.3 | 0.24 | 9.0 | 0.22 | 8.4 | 0.31 | 8.1 | 0.28 | 8.1 | 0.41 | 50 to 55 years | 8.5 | 0.30 | 7.3 | 0.29 | 9.4 | 0.31 | 8.2 | 0.39 | 8.8 | 0.36 | 8.4 | 0.42 | 55 to 60 years | 8.4 | 0.29 | 7.5 | 0.31 | 9.1 | 0.30 | 8.3 | 0.63 | 8.3 | 0.36 | 8.0 | 0.65 | 60 years and above | 8.4 | 0.23 | 7.7 | 0.29 | 9.2 | 0.25 | 8.5 | 0.43 | 8.9 | 0.31 | 8.8 | 0.55 | City-wise | | | | | | | | | | | | | Ahmedabad | 9.8 | 0.45 | 9.5 | 0.81 | 10.9 | 0.44 | 10.6 | 0.57 | 9.7 | 0.50 | 10.1 | 0.51 | Bengaluru | 7.0 | 0.29 | 6.0 | 0.24 | 8.0 | 0.27 | 7.3 | 0.37 | 9.0 | 0.30 | 8.8 | 0.38 | Bhopal | 8.0 | 0.49 | 7.9 | 1.04 | 8.6 | 0.69 | 8.0 | 1.20 | 7.7 | 0.64 | 7.9 | 1.04 | Bhubaneswar | 4.5 | 0.38 | 4.4 | 0.42 | 5.6 | 0.58 | 5.4 | 0.44 | 5.8 | 1.14 | 5.9 | 0.85 | Chennai | 8.4 | 0.30 | 8.2 | 0.35 | 9.5 | 0.34 | 9.6 | 0.48 | 10.2 | 0.39 | 10.5 | 0.22 | Delhi | 7.3 | 0.18 | 6.3 | 0.26 | 7.7 | 0.21 | 6.8 | 0.29 | 6.8 | 0.33 | 6.2 | 0.38 | Guwahati | 4.4 | 0.53 | 4.1 | 0.72 | 5.4 | 0.45 | 5.0 | 0.38 | 4.8 | 0.41 | 5.0 | 0.38 | Hyderabad | 8.5 | 0.41 | 6.8 | 0.66 | 9.7 | 0.39 | 8.6 | 0.61 | 10.2 | 0.39 | 10.0 | 0.58 | Jaipur | 7.2 | 0.49 | 6.7 | 0.53 | 7.4 | 0.50 | 6.9 | 0.55 | 6.6 | 0.52 | 6.3 | 0.58 | Kolkata | 8.8 | 0.32 | 7.7 | 0.35 | 9.6 | 0.35 | 8.8 | 0.53 | 9.2 | 0.36 | 8.8 | 0.50 | Lucknow | 7.6 | 0.41 | 7.2 | 0.42 | 8.5 | 0.42 | 8.1 | 0.31 | 8.6 | 0.55 | 9.6 | 0.34 | Mumbai | 8.6 | 0.24 | 7.9 | 0.37 | 9.4 | 0.24 | 9.0 | 0.50 | 8.2 | 0.33 | 8.3 | 0.53 | Nagpur | 8.1 | 0.55 | 6.7 | 0.76 | 8.3 | 0.49 | 6.8 | 0.65 | 7.3 | 0.72 | 6.6 | 0.59 | Patna | 6.7 | 0.39 | 6.2 | 0.34 | 6.9 | 0.39 | 6.3 | 0.35 | 6.4 | 0.46 | 6.3 | 0.29 | Thiruvananthapuram | 6.7 | 0.47 | 5.6 | 0.38 | 8.3 | 0.53 | 7.5 | 0.75 | 10.1 | 0.67 | 10.4 | 0.89 | Chandigarh | 8.0 | 0.66 | 7.1 | 0.98 | 8.0 | 0.64 | 7.2 | 0.79 | 6.8 | 0.82 | 6.6 | 0.86 | Ranchi | 7.5 | 0.78 | 6.2 | 1.04 | 7.9 | 0.85 | 6.4 | 1.11 | 7.3 | 0.76 | 6.3 | 1.14 | Raipur | 7.3 | 0.50 | 6.3 | 0.62 | 7.1 | 0.49 | 6.2 | 0.65 | 4.3 | 0.79 | 2.4 | 1.65 | Note: The table provides estimates and standard errors for quantitative responses for the March 2019 round. | Table 3: Household Inflation Expectations – Current Perception, Three Months and One Year Ahead Expectations | | Current Perception | Three Months ahead Expectation | One Year ahead Expectation | Mean | Median | Mean | Median | Mean | Median | Estimate | SE | Estimate | SE | Estimate | SE | Estimate | SE | Estimate | SE | Estimate | SE | Mar-18 | 8.2 | -- | 7.2 | -- | 8.6 | -- | 7.8 | -- | 8.9 | -- | 8.6 | -- | Sep-18 | 9.2 | 0.12 | 8.4 | 0.19 | 9.9 | 0.12 | 9.4 | 0.27 | 9.6 | 0.14 | 9.8 | 0.23 | Nov-18 | 9.1 | 0.11 | 8.2 | 0.18 | 9.7 | 0.12 | 9.0 | 0.22 | 9.6 | 0.12 | 9.8 | 0.25 | Dec-18 | 8.3 | 0.11 | 7.1 | 0.18 | 9.1 | 0.11 | 8.2 | 0.15 | 8.6 | 0.13 | 8.5 | 0.17 | Mar-19 | 8.0 | 0.09 | 6.9 | 0.14 | 8.7 | 0.10 | 7.8 | 0.12 | 8.3 | 0.12 | 8.1 | 0.17 | ‘--‘ Calculation of Standard Error was initiated from the September 2018 round onwards. | Note: The table provides estimates and standard errors for quantitative responses. |
Table 4: Households Expecting General Price Movements in Coherence with Movements in Price Expectations of Various Product Groups: Three Months Ahead and One Year Ahead | (Percentage of Respondents) | Survey period ended | Food | Non-Food | Households durables | Housing | Cost of services | Three Months Ahead | Mar-18 | 63.7 | 63.2 | 55.6 | 57.8 | 62.7 | Sep-18 | 64.4 | 65.3 | 52.8 | 58.6 | 64.3 | Nov-18 | 65.6 | 66.8 | 56.5 | 61.4 | 66.2 | Dec-18 | 62.9 | 64.0 | 55.3 | 62.4 | 64.3 | Mar-19 | 62.6 | 62.3 | 54.9 | 58.8 | 63.4 | One Year Ahead | Mar-18 | 69.0 | 66.3 | 59.6 | 64.3 | 69.2 | Sep-18 | 72.2 | 71.5 | 60.0 | 66.5 | 71.4 | Nov-18 | 73.5 | 72.3 | 62.7 | 67.7 | 73.2 | Dec-18 | 72.5 | 71.7 | 62.5 | 70.3 | 72.9 | Mar-19 | 70.2 | 68.8 | 61.8 | 66.0 | 69.9 | Note: Figures are based on sample observations | Table 5(a): Cross-tabulation of Number of Respondents by Current Inflation Perception and Three Months Ahead Inflation Expectations: March 2019 | Three Months 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 | 25 | 1 | 2 | 4 | 3 | 5 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 42 | 1-<2 | 0 | 40 | 14 | 4 | 4 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64 | 2-<3 | 3 | 14 | 176 | 62 | 48 | 22 | 1 | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 329 | 3-<4 | 2 | 5 | 18 | 151 | 67 | 66 | 26 | 3 | 3 | 0 | 3 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 346 | 4-<5 | 1 | 0 | 13 | 24 | 272 | 88 | 64 | 11 | 10 | 1 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 486 | 5-<6 | 0 | 1 | 9 | 25 | 27 | 680 | 129 | 178 | 87 | 12 | 79 | 1 | 1 | 0 | 0 | 4 | 0 | 2 | 1235 | 6-<7 | 0 | 0 | 3 | 3 | 8 | 8 | 265 | 74 | 57 | 18 | 10 | 1 | 7 | 0 | 0 | 1 | 2 | 0 | 457 | 7-<8 | 0 | 1 | 0 | 1 | 6 | 13 | 9 | 265 | 99 | 78 | 50 | 1 | 2 | 1 | 3 | 0 | 1 | 0 | 530 | 8-<9 | 0 | 0 | 0 | 2 | 0 | 4 | 2 | 3 | 198 | 55 | 102 | 8 | 13 | 5 | 0 | 2 | 2 | 0 | 396 | 9-<10 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 2 | 3 | 97 | 41 | 14 | 20 | 4 | 1 | 2 | 2 | 0 | 188 | 10-<11 | 2 | 1 | 2 | 0 | 3 | 20 | 3 | 7 | 7 | 6 | 423 | 38 | 117 | 34 | 7 | 126 | 47 | 2 | 845 | 11-<12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 3 | 31 | 9 | 7 | 2 | 6 | 7 | 0 | 67 | 12-<13 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 2 | 0 | 1 | 1 | 24 | 6 | 8 | 27 | 4 | 0 | 75 | 13-<14 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 11 | 2 | 6 | 3 | 0 | 23 | 14-<15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 16 | 4 | 7 | 0 | 29 | 15-<16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 6 | 0 | 2 | 2 | 0 | 83 | 87 | 2 | 183 | >=16 | 0 | 1 | 1 | 0 | 0 | 4 | 0 | 1 | 0 | 0 | 10 | 0 | 1 | 0 | 1 | 13 | 498 | 4 | 534 | Total | 33 | 64 | 238 | 276 | 439 | 915 | 499 | 548 | 469 | 268 | 730 | 96 | 199 | 71 | 40 | 274 | 660 | 10 | 5829 | Note: Figures are based on sample observations | Table 5(b): Cross-tabulation of Number of Respondents by Current Inflation Perception and One Year Ahead Inflation Expectations: March 2019 | 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 | 23 | 3 | 3 | 2 | 2 | 4 | 3 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 42 | 1-<2 | 16 | 22 | 5 | 11 | 0 | 2 | 4 | 1 | 0 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 64 | 2-<3 | 88 | 3 | 84 | 31 | 47 | 32 | 23 | 10 | 5 | 1 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 329 | 3-<4 | 66 | 0 | 5 | 78 | 30 | 66 | 38 | 18 | 17 | 8 | 14 | 1 | 2 | 1 | 0 | 2 | 0 | 0 | 346 | 4-<5 | 96 | 0 | 0 | 3 | 152 | 60 | 81 | 33 | 34 | 5 | 16 | 0 | 4 | 0 | 0 | 1 | 1 | 0 | 486 | 5-<6 | 191 | 0 | 2 | 11 | 16 | 398 | 90 | 156 | 101 | 38 | 185 | 3 | 17 | 2 | 1 | 15 | 7 | 2 | 1235 | 6-<7 | 53 | 0 | 0 | 2 | 3 | 4 | 156 | 58 | 73 | 36 | 38 | 9 | 16 | 3 | 2 | 2 | 2 | 0 | 457 | 7-<8 | 73 | 1 | 0 | 0 | 2 | 4 | 6 | 154 | 63 | 83 | 96 | 13 | 17 | 5 | 2 | 7 | 2 | 2 | 530 | 8-<9 | 47 | 0 | 0 | 2 | 0 | 1 | 0 | 2 | 96 | 46 | 125 | 14 | 31 | 9 | 4 | 8 | 10 | 1 | 396 | 9-<10 | 26 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 3 | 59 | 27 | 15 | 30 | 5 | 6 | 6 | 6 | 0 | 188 | 10-<11 | 104 | 0 | 0 | 0 | 0 | 4 | 1 | 6 | 5 | 10 | 266 | 23 | 87 | 37 | 24 | 154 | 121 | 3 | 845 | 11-<12 | 12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14 | 7 | 7 | 5 | 14 | 8 | 0 | 67 | 12-<13 | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 15 | 5 | 4 | 19 | 19 | 0 | 75 | 13-<14 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 3 | 4 | 5 | 0 | 23 | 14-<15 | 7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 7 | 8 | 0 | 29 | 15-<16 | 20 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 0 | 1 | 1 | 0 | 53 | 101 | 2 | 183 | >=16 | 90 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 5 | 0 | 0 | 0 | 1 | 3 | 426 | 6 | 534 | Total | 926 | 30 | 99 | 140 | 252 | 576 | 402 | 445 | 398 | 287 | 785 | 93 | 228 | 82 | 59 | 295 | 716 | 16 | 5829 | Note: Figures are based on sample observations | |