RBI Working Paper No. 01/2026: Data Gaps in State-Level Inflation: An Assessment for the Covid Period

Today the Reserve Bank of India placed on its website a Working Paper titled, “ Data Gaps in State-Level Inflation: An Assessment for the Covid Period ” under the Reserve Bank of India Working Paper Series 1 . The paper is co-authored by Purnima Shaw and R. K. Sinha. The collection and compilation of official statistics was affected during the outbreak of Covid-19 pandemic due to the resulting restrictions across the world. In India, imputed price indices for the official inflation were released at the aggregate level for the months of April and May 2020. However, the State-wise official inflation figures remain unavailable for four of the pandemic months viz., April and May 2020 and April and May 2021. In this context, this paper uses RBI’s Inflation Expectations Survey of Households (IESH) granular data to derive State-wise CPI-U inflation estimates for these four pandemic months. The paper describes the importance of IESH, which continued to be conducted bimonthly and disseminated during the pandemic months. Using the distributions of centre-wise urban consumers’ inflation perceptions, three months ahead inflation expectations, and past State-wise realised CPI-U inflation figure

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