However, the survey finds that this third quarter one-year-ahead inflation expectations continue to be higher than the average one-year-ahead headline inflation expectations of 3.3% since the inception of this index in the third quarter of 2011.
Singaporeans believe that inflation levels have peaked and will start to slow down over the next year, according to the Singapore Index of Inflation Expectations (SInDEx) survey.
The quarterly online survey, now in its 49th edition, found that Singaporeans inflation expectations dropped from 4.9% in June 2023 to 4.5% in September. Although price levels remain high in some advanced economies, Singaporeans think that the coordinated policy responses for major advanced economies to tackle global inflation and cost-of-living, on top of China’s dampened growth outlook, is paying off.
