New Delhi: Indian households expect inflation to rise by 70 basis points to 11.7% during April-June quarter and by 150 basis points to 12.5% in the year ended March 31, 2013 from the perceived current rate of 11%, the May issue of the Reserve Bank of India's (RBI) monthly bulletin said.
The RBI compiled the findings based on its 'Inflation Expectations Survey of Households' conducted in the first fortnight of March 2012, the 27th round in the series. A total of 4,000 urban households across 12 cities had been surveyed.
As per the survey, 75.6% of the respondents expect general prices to rise by 'more than the current rate' for three months ahead, while 78.8% of the respondents are of the same opinion for one year ahead.
Further, 70% of the respondents do not expect their incomes to change in the April-June period, but 73% expect incomes to go up in the next one year.
"53% of the wage/income earners reported an increase in wages/income in the past one year," it added.
A total of 60% of the respondents were aware of the RBI action to control inflation, the survey showed.
India's wholesale price index (WPI)-based inflation fell marginally to 6.89% on-year in March from the 6.95% yearly rise recorded in February, but is still higher than the RBI's comfort level of 5%-6%.