Households in Singapore are spending more on necessities and accommodation. It’s getting costlier to have fun and relax too.
Prices of recreational and cultural activities in Singapore in September soared the most in 40 years, according to the Department of Statistics on Tuesday. Keeping that pet puppy or turtle now costs 5.2% more than a year earlier while holiday expenses rose by 8.4%.
Concerns about the rising cost of living have prompted four rounds of monetary policy tightening this year, as the city contends with the fastest inflation in 14 years. Singapore unveiled a $1.5 billion inflation-relief package earlier this month.
Food staples like flour and noodles also saw all-time highs. Chilled poultry prices jumped by a record 39% after a chicken export ban by neighbouring Malaysia. The curb was lifted this month.
Dining out at hawker centres, which serve local street food such as chicken rice, is 7.9% pricier -- the biggest increase on record since the data was published in 2020.