Within the survey by SMU and DBS the overall consumer price index inflation expectations (CPIEx), after adjusting for potential component-wise behavioural biases and re-combining across components, pared to 4.1% in September 2024 from 4.2% in June 2024.
The one-year-ahead inflation expectations remained unchanged q-o-q at 3.8% in September this year, with consumers’ expectations flattening in line with the general global trends in major economies, the Singapore Index of Inflation Expectations (SInDEx) survey led by the Singapore Management University (SMU) and DBS Group Research found. The survey polled 500 respondents across Singapore and was released on Oct 22.
That said, the survey found that one-year-ahead inflation expectations remain elevated with the third quarter one-year-ahead inflation expectations higher than the average of 3.4% since the index was incepted in the third quarter of 2011. In comparison, data from the Monetary Authority of Singapore’s survey of professional forecasters (MAS SPF) released in September this year found that the median forecast for headline inflation in 2024 was 2.6%. The median forecast for core inflation in 2024 is 2.9%.
