The inflation expectation of Indians is higher today than it ever was in the past seven years and consumer confidence is the worst in practically a decade, concluded the Reserve Bank of India (RBI) after conducting a bunch of household surveys.

In fact, the inflation expectations of the current month are even higher than what it was in January. Comparing it since 2014, inflation expectations have not been so high.

Consumer confidence, meanwhile, in July is as bad as May.

On the other hand, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday left the key policy rate, the repo rate, unchanged for the seventh time in a row while retaining its accommodative stance. Unveiling the bi-monthly monetary policy, the RBI panel raised the projection for retail inflation to 5.7 percent in the financial year 2021-22 from 5.1 percent earlier.

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(Edited by : Anshul)