According to the SKBI-MasterCard Singapore Index of Inflation Expectations, which was jointly developed by the SMU Sim Kee Boon Institute for Financial Economics (SKBI) and MasterCard, local households expect inflation for the year to fall from 3.73 per cent three months ago to 3.53 per cent. SKBI also expects core inflation to fall from 3.95 to 3.61 per cent.