Singapore consumers continue to expect inflation to edge downwards, said the latest SKBI-MasterCard Singapore Index of Inflation Expectations report – produced by the Sim Kee Boon Institute for Financial Economics at SMU (SKBI) and sponsored by MasterCard. Responses from a representative sample of 400 local consumers polled online in March produced a composite index showing that the general public expects inflation of 4.26 per cent for the year ahead, down from 4.4 per cent in December last year. Consumer expectations of headline inflation fell to 4.12 per cent – the lowest expected level since the survey's launch in September 2011 – from 4.37 per cent a quarter earlier. Core inflation, which strips out accommodation and private road transport costs, is also expected to fall to 4.32 per cent, from expectations of 4.44 per cent in December, said the report. SKBI Programme Director and co-creator of the survey, Aurobindo Ghosh said, "Given that the medium-term expectations are fairly anchored, we will not see huge fluctuations in average inflation expectations but possibly an increase due to increased uncertainty in the global financial system."