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Singapore's FairPrice Group to absorb 1% GST hike on 500 essential items starting 1 January 2024
The absorption of the GST hike will apply across all NTUC FairPrice supermarket shopping formats in Singapore, including FairPrice online.
SINGAPORE — FairPrice Group (FPG) will absorb the one per cent Goods and Services Tax (GST) increase on 500 essential items for six months, starting 1 January 2024.
In a press release on Monday (27 November), FPG said the move is one of its "strategic initiatives" to assist Singaporeans during times of "stubborn inflation resulting in an unprecedented rise in the cost of living".
The GST increase from eight per cent to nine per cent will take place from 1 January 2024. FPG said the absorption of the GST hike will be across all FairPrice supermarket retail formats — FairPrice supermarkets, FairPrice Shop stores, FairPrice Finest outlets, FairPrice Xtra hypermarkets and FairPrice online.
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FPG said that the 500 essential items are those that are frequently bought by consumers and serves the top-of-mind needs of costumers. They comprise national brands and housebrand items such as fresh fruits, vegetables and meat, staples, dairy, paper products, detergents and household cleaners.
Pioneer and Merdeka Generation discounts extended
In addition, FPG will also extend its discount schemes for members of the Pioneer Generation (PG), Merdeka Generation (MG), and Community Health Assist Scheme (CHAS) Blue cardholders.
To be able to benefit from these discount schemes, eligible customers will need to present their membership cards (PG, MG or CHAS Blue card) at cashiers upon checking out their purchases.
At self-checkout counters, customers must select the relevant PG, MG or CHAS Blue card discount option. These discounts are valid for up to S$200 per transaction per day.
FPG said that since 2019, it has returned more than S$780 million in the form of discounts, rebates and donations to the community. It returned more than S$200 million to the community in 2022 and expects to do the same this year, it added.
"FPG will continue to work hard to help customers make every dollar count so as to maintain their quality of life and feed their families well," Vipul Chawla, Group CEO, FPG, said.
"Providing a 1 per cent discount to offset the GST increase and extending our FairPrice PG, MG and CHAS Blue discount schemes are just a few strategies we have in place to ensure that the community gets the support it needs to keep daily essentials within reach."
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