NTUC FairPrice to offset GST increase with discount offers

This will take effect in the first six months of 2023.

NTUC FairPrice announced that it will be offering discounts across 500 essential items in the first six months of 2023 to offset the increase in Singapore’s Goods and Services Tax (GST). 

This comes as Singapore is poised to increase the GST to 8%, starting 1 January 2023.

“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,” Vipul Chawla, Group CEO, FairPrice Group, said.  

“Providing the discount to offset the GST hike is one of the multiple strategies we have in place to ensure the community continues to have access to affordable daily essentials.”

Read more: Will the GST rate hike exacerbate Singapore inflation?

The 500 key essential items will be selected based on items customers frequently purchase or those considered top-of-mind products. 

These include national brand and house brand items such as fresh fruits, vegetables and meat, staples, dairy, paper products, detergents, and household cleaners.

“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,” Chawla also said.