"... The majority of the respondents continue to expect similar or lower rate of price change or expects the prices to remain unchanged or even fall," it said.
Households expect inflation to be 10.5 per cent in the next three months, up from 10.1 per cent in the previous survey. The current inflation expectation is 9.9 per cent.
Inflation expectations of households remained elevated in double digits in response to recent month-on-month increases in prices of vegetables and pulses, RBI said.
The Inflation Expectations Survey of Households for September 2015 (41st round) captured inflation expectations of 4,903 urban households across 16 cities for the next three months and the next one year.
Also Read
Meanwhile, a survey of professional forecasters on macroeconomic indicators put up on the RBI Website said real Gross Value Added at basic price (GVA) will increase by 7.4 per cent in 2015-16.
Agriculture & allied activities and services are expected to grow 1.5 per cent and 9.4 per cent, respectively. Industry growth forecast has been placed at 6.7 per cent.
Another survey revealed that the outlook on business sentiment remained range-bound in the third quarter of 2015-16.
"This could be attributed to the reduced pessimism in inventory of raw material, inventory of finished goods along with the reduced optimism in exports. Also, reduced pessimism is observed in the cost of finance and cost of raw material," the survey said.