Inflation easing, but some still cut back on spending amid high prices

More home-cooked meals, cheaper brands and renewing COEs among ways of coping

- Colin Tan

Inflation has been easing, but that has not stopped some people from finding ways to better manage their expenses as prices remain higher than before.

Core inflation fell to 2.1 per cent in October, down from 2.8 per cent in September.

Overall inflation, which includes accommodation and private transport, was down to 1.4 per cent, from 2 per cent a month ago.

The good news is, inflation in Singapore is seen easing further in 2025, in line with global trends.

However, what the official data shows could differ from the price impact that people are experiencing in their daily lives.

This is because one's experience is coloured by his or her spending habits, income level, and psychological perception of price changes.

The consumer price index (CPI), in contrast, is a broad measure of inflation that tracks price changes of a fixed basket of goods and services commonly purchased by households.

In a nod to Singaporeans' worries about the cost of living, the Government has rolled out major support packages over the last few years, with more help on the way in the coming months, such as another tranche of CDC vouchers in January 2025.

The Straits Times takes a look at how some people are coping with expenses.

HOUSEWIFE MAKES THE MOST OF HER GROCERY BUDGET

Housewife Germaine Teo has found it challenging in the past 12 months to stick to her usual grocery budget for her family of five.

The 45-year-old, who has three children - a 17-year-old daughter and two sons aged 14 and 12 - stopped working in 2012 after her youngest was born, leaving her husband, who is also 45, as the sole breadwinner.

The arrangement worked well for the family, who live in a five-room Housing Board flat, as her husband rose up the corporate ladder to eventually become a director in an engineering company.

But since the pandemic, rising prices and job uncertainty have thrown a spanner in the works.