SMU’s Singapore Index of Inflation Expectations (SInDEx), released on April 20, revealed that expectations for headline inflation for the year ahead fell to an all-time low of 3.05 per cent since its launch in September 2011. SMU Assistant Professor of Finance (Education) Aurobindo Ghosh said: “Low oil prices and fluctuating exchange rates are probably here to stay in the medium term. These phenomena have had a significant negative impact on expectations of inflation the world over, including the G3 economies.” He added: “Domestic factors such as the impending supply glut in COE quota and upcoming additional supply of accommodation, lower than expected pass-through costs despite tight labour market and medical subsidies have brought down the inflation expectations by Singaporeans.”