Rising utility costs are the latest price pressures to hit residents in Singapore, where rentals remain elevated and even cheap hawker meals are disappearing, prompting the government to announce fresh support this week of $1.1 billion worth of handouts. Higher prices may also revive core inflation that has already eased to a 16-month low.
Singapore will increase gas and electricity tariffs next quarter, days after announcing a hike in water rates starting April 2024, adding to the burden of consumers already grappling with high prices.
SP Group will raise the average electricity price by 3.7% for the three months through December compared with the previous quarter, according to a company statement. Gas tariffs for households will go up by 51 cents per kilowatt hour, according to City Energy.
