DBS Group Research and SMU’s Sim Kee Boon Institute for Financial Economics (SKBI) released the latest Singapore Index of Inflation Expectations (SInDEx) which showed that households in Singapore have modestly raised their expectations for near-term price increases, driven by mounting global uncertainties, supply chain disruptions and the spectre of new tariffs. The one-year-ahead headline inflation expectations climbed to an average of 3.4% in June, from 3.3% in March. SMU Assistant Professor of Finance (Education) Aurobindo Ghosh, and the principal investigator of the SInDEx project, observed that the results of DBS-SKBI SInDEx show that one-year-ahead inflation expectations have marginally increased in the June 2026 survey compared to March 2026, suggesting the pre-emptive tightening might have had the desired effect. Asst Prof Ghosh noted that this anchoring of core expectations indicates that while short-term geopolitical risks are evident, “longer-term inflation expectations in Singapore seem to be more anchored”.
