Inflation has been surging worldwide, and Singaporeans too have been feeling the impact on local prices, particularly in food and energy costs. Read more on why prices have been increasing.
After years of relative stability, the recent increase in prices has understandably been concerning. The Government will continue to support Singaporeans through these challenging times. To help Singaporeans cope with higher inflation and cost of living concerns, the Government has rolled out a comprehensive set of measures since the start of 2022.
The new $1.5 billion support package announced in October 2022, together with earlier rounds of support measures in February and June 2022, will provide further cost of living relief for all Singaporean households, with more support for lower- to middle-income groups.
To cushion the impact of the GST rate increase for all Singaporeans, the Government will top up the Assurance Package (AP) by $1.4 billion to reach around $8 billion. This ensures that even with the current inflation situation, the AP will offset additional GST expenses for the majority of Singaporean households for at least five years. More details will be announced at Budget 2023.
For more help, visit go.gov.sg/ssolocator to locate your nearest Social Service Office, or call the ComCare hotline at 1800-222-0000.
Beyond direct support to help keep essentials within reach, the Government is also committed to supporting local workers by growing their wages. To achieve this, we will also support local businesses to transform and become more productive.