Going by the latest Singapore Index of Inflation Expectations survey conducted in June, consumers polled expect overall inflation to stand at 3.66 per cent, down from 3.72 per cent in December 2013. While this marks the lowest reading since the survey's inception in September 2011, it is far above the Monetary Authority of Singapore forecast of 1.5–2.5 per cent, and OCBC Bank's 1.7 per cent, for 2014. "Property prices in Singapore have reacted to curbs in (total) debt servicing ratios, and the slight temporary increase in vehicle quotas has dampened car prices. We see this reflected in the moderation of overall inflation expectations," SMU Assistant Professor of Finance and Programme Director of the Sim Kee Boon Institute for Financial Economics, Aurobindo Ghosh said of the findings.