The package, which comes on top of the additional S$1.5bil in support announced in June, is geared towards those in the lower and middle income bands. — Reuters
SINGAPORE: Singapore’s Finance Ministry has announced an additional S$1.1bil to help households handle increases in the cost of living.
The package includes an additional S$200 for 2.5 million adult Singaporeans, just under half of its population, to be disbursed in December.
The package, which comes on top of the additional S$1.5bil in support announced in June, is geared towards those in the lower and middle income bands.
Inflation in August eased to 3.4% from 5.5% in January to March.
The ministry in a statement said that while inflation had come down from its peak, “households are still dealing with the impact of price increases in various areas”.
Economists are generally expecting the central bank to keep monetary policy settings unchanged in a scheduled review next month, on a weak growth outlook and still-elevated but easing inflation. — Reuters
