Singapore’s largest supermarket chain, FairPrice has decided to freeze the prices of 100 everyday essentials from 9 April to 31 May to keep groceries affordable for consumers.
Consumers can look out for ‘Price Freeze’ label in store or online and these include poultry, fruits and vegetable products as well as specified baby diapers and laundry detergent.
According to a company statement, “This price freeze is part of FairPrice Group’s wider commitment to keep daily essentials within reach for all, amidst the growing impact of economic and geopolitical volatility on Singaporeans’ daily lives.”
Fairprice Group CEO, Vipul Chawla said food and groceries make up over 20% of the average household budget, and even more for lower-income families.
Singapore imports more than 90% of its food. With rising food costs due to rise in cost of fertilisers and fuel, food products are expected to cost more in the near future. Singapore currently has a strategic food stockpile to cushion the impact in the medium term.
