Cost of Living During COVID-19 and Measures to Monitor and Manage Situation

Mr Christopher de Souza asked the Minister for Trade and Industry (a) whether the cost of living has increased during the current COVID-19 period; and (b) if so, what measures are being taken to monitor and manage the situation.

Between January 2020 when the first local COVID-19 case was confirmed and July 2020, the Consumer Price Index-All Items1 declined by 0.2 per cent on a year-on-year basis. This decline was largely driven by a fall in the cost of pre-primary education, electricity, outpatient services and petrol, which outweighed an increase in food prices.

Nonetheless, the Government recognises that cost of living may remain a cause for concern for Singaporeans, especially those who have suffered employment losses or wage cuts during the current economic downturn. To help Singaporeans tide over this difficult period, the Government has rolled out several support measures, including the Care and Support Package, COVID-19 Support Grant, and SG United Jobs and Skills Package. The Government will continue to monitor developments closely, and stands ready to provide more support to Singaporeans if necessary.