Australia markets close in 19 minutes
  • ALL ORDS

    7,481.50
    +39.50 (+0.53%)
     
  • ASX 200

    7,287.40
    +34.10 (+0.47%)
     
  • AUD/USD

    0.6700
    +0.0011 (+0.16%)
     
  • OIL

    79.10
    +0.90 (+1.15%)
     
  • GOLD

    1,769.10
    +5.40 (+0.31%)
     
  • BTC-AUD

    25,144.53
    +453.97 (+1.84%)
     
  • CMC Crypto 200

    400.21
    +11.48 (+2.95%)
     
  • AUD/EUR

    0.6466
    -0.0001 (-0.01%)
     
  • AUD/NZD

    1.0762
    -0.0021 (-0.20%)
     
  • NZX 50

    11,552.04
    +156.69 (+1.38%)
     
  • NASDAQ

    11,503.45
    -84.30 (-0.73%)
     
  • FTSE

    7,512.00
    +37.98 (+0.51%)
     
  • Dow Jones

    33,852.53
    +3.07 (+0.01%)
     
  • DAX

    14,355.45
    -27.91 (-0.19%)
     
  • Hang Seng

    18,245.04
    +40.36 (+0.22%)
     
  • NIKKEI 225

    27,924.84
    -103.00 (-0.37%)
     

NTUC FairPrice to give 1% discount on 500 items in 2023 to offset GST hike

Image showing cashiers dressed in orange and black uniform at the FairPrice Finest at Junction 8.
FairPrice Finest at the Junction 8 shopping mall. (PHOTO: Jeff Greenberg/Universal Images Group via Getty Images)

SINGAPORE – NTUC FairPrice will offer a 1 per cent discount on 500 essential items to offset the GST rate increase from 7 to 8 per cent from 1 January next year.

This initiative – lasting six months – will apply across all FairPrice supermarket retail formats, including FairPrice Online.

In a press release on Friday (4 November), it said that the basket of 500 essential items "is selected based on items that customers purchase frequently and serves the top-of-mind needs of customers". "They comprise national brand and housebrand items such as fresh fruits, vegetables and meat, staples, dairy, paper products, detergents and household cleaners."

Recently, FairPrice slashed the cost of three rice products by 15 per cent for two weeks until 9 November.

A 5kg pack of Songhe AAA Thai Hom Mali Rice costs S$14.35, instead of its usual S$16.90, while a 5kg pack of FairPrice Brown Rice is priced at S$9.50, instead of the regular S$11.20.

For those who prefer buying larger packs of rice, the 10kg Double FP Thai Hom Mali Premium Quality Fragrant Rice costs S$19.90, instead of S$23.65.

In April, FairPrice lowered the price of its Pasar fresh eggs. The special discount was to help consumers deal with the rising egg prices. Then, a 30-piece tray of the eggs cost S$6.95, down from S$7.50.

Discounts offered during previous GST hikes too

FairPrice group CEO, Vipul Chawla, said, "Moderating the cost of living has always been our core focus and we are stepping up our efforts to further support our customers amidst the current uncertain economic climate and rising inflation."

"We anticipate inflationary concerns will continue into 2023. To address this, FairPrice will put in place different schemes to help various segments of the community," he added.

FairPrice had offered discounts to moderate cost when the 3 per cent GST was first introduced in 1994. During the last GST revision from 5 to 7 per cent, FairPrice had also offered discounts to offset the 2 per cent GST hike on 400 essential items from July to December 2007.

Follow us on Facebook, Instagram, TikTok and Twitter.

Yahoo Singapore Telegram
Yahoo Singapore Telegram