Inflation expectations in Singapore inched up to 2.7 per cent from a five-year low of 2.63 per cent recorded in September 2016, a December 2016 survey by SMU showed. Consumers polled in December 2016 were swayed by weakness in global growth, exacerbated by the uncertainties of global trade in the US and eurozone following the unexpected outcomes US presidential election and Brexit referendum, the media release said.

SMU Assistant Professor of Finance (Education) and principal investigator of the SInDEx Project Aurobindo Ghosh said: "Global growth is at a crossroads, with the nascent growth in the US seemingly a beacon of better days ahead. Against this backdrop, it is to be expected that the consumers of a trade-dependent economy like Singapore would prepare for possible increase in overall price levels."