SMU's Singapore Index of Inflation Expectations (SInDEx), which was released today, showed that Singaporeans' inflation expectations posted the largest quarterly decline on record in March this year. The One-Year-Ahead inflation expectations dropped from 3.52 per cent in December 2014 to 3.05 per cent in March, the lowest value of the headline inflation expectations since the survey’s inception in September 2011. SMU’s report stated: “The current One-Year-Ahead headline inflation expectations shows that Singapore households are well aware of the slump in oil prices and its overall impact on general price levels together with possible tightening of monetary policy.”