Prices to Rise Show RBI Survey
Oct 22, 2018 Real Estate News
Reserve Bank of India recently surveyed from September 2017 to September 2018 in 18 different cities. The Inflation Expectations Survey of Households studied opinions of people and found some interesting findings. The people who took part in the survey are the retired people, homemakers, people employed in the financial sector, and many others from different areas of society and work.
In September 2018, 4 percent believed that the prices would be less than the current rate, 24.1 percent said that there would be no change in the current price while 8.8 percent said that there would be some reduction in the prices.
Consumer inflation rate was highest in June 2018 at 4.92 percent, the highest since May 2018 at 4.87 percent and November 2017 at 4.88 percent.
In August 2018, the inflation rates fell to 3.69percent. But it is expected that they will bounce back to 4.6 percent in the fourth quarter of the year.
General prices
In general, the opinion of Indian households was that the costs would hike up. 49.7 percent said that the prices would increase more than the current rate while 27.6 percent of the people agreed that the prices will rise but will be similar to the one that was around September 2017. 17.4 percent people were optimistic about the prices remaining same while 2.2 percent voted that the prices will go down. Although, 3.7 percent of people agreed that the price increase would be less than the existing rate. In total, 80.4 percent people agreed that the process would rise.Real estate prices
Since RERA and GST came into full force in 2017, there has been mixed emotions regarding the prices in the real estate sector. In September 2017, 68.9percent people voted that the prices will go higher while in September 2018, 67.1percent people voted that the prices will rise. Around 45.2 percent people said that they expect the prices to rise more than the inflation rates that existed in September 2017 as compared to 17.9 percent people who felt that the price increase might be similar to rates in 2017.In September 2018, 4 percent believed that the prices would be less than the current rate, 24.1 percent said that there would be no change in the current price while 8.8 percent said that there would be some reduction in the prices.
Household prices
As compared to September 2017, when 70.7 percent people believed that the prices would rise due to inflation, in September 2018, 67.5 percent people felt the same. This year, 40.7 percent people thought that the prices would be higher than they were last year. Twenty two percent believed that the price rise would be similar. 4.8percent felt that the prices could increase but at the lower rate while the 22.6 percent positive thought that the prices will not change and 10 percent believed that the prices would decline.Consumer inflation rate was highest in June 2018 at 4.92 percent, the highest since May 2018 at 4.87 percent and November 2017 at 4.88 percent.
In August 2018, the inflation rates fell to 3.69percent. But it is expected that they will bounce back to 4.6 percent in the fourth quarter of the year.
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