According to the latest quarterly survey for Singapore Index of Inflation Expectations (SInDEx) by the SMU Sim Kee Boon Institute for Financial Economics (SKBI) Singapore's expected inflation expectations have moderated to 3.23%, off its three-year high in the March 2017 survey. SMU said a few factors presented counterbalancing forces on prices. "It appears, the net impact of these opposing price pressures have resulted in an overall decline in the inflation expectations of Singaporean households." This is against the common perception that consumer sentiment across the globe is buoyant despite headwinds to globalisation.