Singaporeans say ‘2 step GST increase will be another excuse next year for businesses to increase prices further’

SINGAPORE — An online citizen took to an online news forum on Friday (Jan 29) to share an open rant about the price increase.

“A few years ago when people talked about inflation, I was quite dismissive as to what sort of price increase are they (were) talking about,” the post read. “Usually, price increases are gradual such that we don’t notice it. But in recent months, the exponential increase has been crazy and my wallet is really feeling it. It’s like businesses aren’t afraid of losing customers anymore due to price increases.”

The post seemed to resonate with many, as the comments section was filled with messages either sympathising with the writer or adding to the issue raised.

While some singled out the GST hike in their comments, others pointed out that even beyond the GST, many factors around the world have contributed to the increase in prices. “Many comments here are blaming the 1% GST for the price increase. Let’s not forget the backdrop: war impact on price of grain, raw materials price hike, and food services PWM.We’re getting screwed by many reasons, not just one,” said one.

Another Singaporean wrote, “Honestly I left. Rent is the big(gest) issue for me. At this point, there are way cheaper options in the region, and despite how much I love Singapore, I can’t justify paying above 3k for a 1bedroom place when I can pay 25-33% for something better elsewhere, and fly back to Singapore weekly while still saving money.”

Many others shared their two cents on the matter in the comments section of the post.