Cost of living remains one of the most pressing issues in our society that continues to be tackled from different fronts. It hasn’t helped that since the Covid-19 pandemic, we have had wars and geopolitical tensions that have kept up the pressure on prices, not only in Singapore but also across the world.

Many of us have the wherewithal to adjust our purse strings to adapt in this challenging environment, but lower-income families face greater hurdles in making ends meet. Recent data from the Ministry of Manpower pointed to a decline in real-income growth among Singaporeans, especially those at the bottom 20th income percentile.