According to a quarterly survey released by SMU on January 19, Singapore's inflation is expected to hit a three-year low due to plunging oil prices and global growth uncertainty. The predicted inflation for Singapore households has increased slightly from the September 2014 forecast of 3.37 percent to 3.53 percent. Compared to the historical inflation expectation average of 4.11 percent and the 2014 fourth quarter average of 4.08 percent, the current inflation expectation reveals that Singapore households are cognisant of global conditions and are responding to price fluctuations and data from policymakers.