According to the Singapore Index of Inflation Expectations (SInDEx) report, jointly compiled by the SMU Sim Kee Boon Institute for Financial Economics with DBS Group, the pressure of tightening monetary policy and geopolitical turmoil, coupled with the rising demand after the recovery of the pandemic and the uncertain economic environment, has led local residents to project that the overall inflation rate one year ahead will rise to 4.6%, up from 3.8% in the last quarter. SMU Assistant Professor of Finance (Education) Aurobindo Ghosh, who leads this survey, noted that consumers have mixed views on the future direction of inflation, possibly because the monetary policy to curb price increases has yet to bear fruit. He explained that as an open and small international market, prices in Singapore may rise in the short term, and then experience a long-term downward trend.