The latest quarterly Singapore Index of Inflation Expectations (SInDEx) survey from DBS Bank and SMU found that people's expectations of how much prices will rise in the year ahead hit a nine-year high in March this year. The findings are in line with another survey by the Monetary Authority of Singapore (MAS), which indicates inflation remains a challenge this year. SMU Assistant Professor of Finance Aurobindo Ghosh, the founding principal investigator of the survey, said “Singapore being a small, open economy is vulnerable to all these risk factors.”