The latest Singapore Index of Inflation Expectations (SInDEx) by SMU and DBS found that consumer inflation expectations rose to 5 per cent in March 2025 from 4.4 per cent in December 2024, while one-year-ahead headline inflation remained at 3.8 per cent. Public sentiment was split, with equal proportions expecting inflation to rise or fall. This indicates diverging views based on different scenarios. Singaporeans expect to shift household spending towards essentials, and salary expectations showed modest optimism. The gap between stable official inflation data and rising yet split consumer expectations suggests increased economic uncertainty.
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