In comparison, data from the Monetary Authority of Singapore Survey of Professional Forecasters (MAS SPF) released last December found that the median forecast of the consumer price index (CPI)-all Items inflation for 2023 was 4.8%, while the MAS’ core inflation median forecast was 4.1%.
Singaporeans continue to believe that inflation will drop over the year, according to the quarterly Singapore Index of Inflation Expectations (SInDEx) survey. Headline inflation expectations dipped to 4.2% in December 2023 from 4.5% in September 2023, a downward trend that started in March last year.
This is due to global cues of dampening global growth, and a moderating inflationary environment, the survey finds. However, the inflation expectations for the year ahead polled last quarter stands higher than the average 3.3% since the index was created in 3Q2011.
