The latest Singapore Index of Inflation Expectations report released by DBS and SMU on Monday found that in September, Singaporeans expected headline inflation for the year ahead to be 4.6 per cent – up from 3.9 per cent in June. The September figure is an 11-year high. The report notes that Singaporeans surveyed also feel that they will have to fork out more because of rising prices, even if they cut back on spending.
In a commentary, SMU Assistant Professor of Finance (Education) and Director of Citi-Foundation SMU Financial Literacy Programme for Young Adults Aurobindo Ghosh shared his views on the metaverse and the opportunities to make money in the metaverse economy. While pointing out that lowering the cost of service and standardising service, as a virtual banking establishment, might increase customer experience for financial services, Asst Prof Ghosh cited a 2021 survey conducted by the Citi-Foundation SMU Financial Literacy Programme which found evidence that financial inclusion among young adults reduces impediments to banking like access to branches and documentation requirements.
Dr Aurobindo Ghosh, SMU Assistant Professor of Finance (Education) and Principal Investigator of the Singapore Index of Inflation Expectations Project at Lee Kong Chian School of Business opined that public perception of inflation based on people's personal everyday experience remains persistently higher than the published inflation rate since 2014. This overestimation of inflation has not abated even as inflation was at a lower level from 2014 to today, compared with between 2010 and 2013.
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