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Prepare for a period of higher inflation: DPM Wong
"We cannot say how long this will last, but we expect Singapore's headline inflation to remain high, at least for the first half of this year," he said. "For lower-income households, the enhancements will fully cover the increases in spending due to inflation and the GST rate increase," DPM Wong said.He added that he will also increase the cash payouts by between S$300 and S$650 for eligible Singaporeans over the remaining years of the Assurance Package.
For those living in one- and two-room flats, the total amount disbursed this year will range from S$440 to S$760, while those living in executive and multi-generational flats will receive S$440.The government will also provide additional assistance to eligible Singaporean seniors aged 55 and over with a cost-of-living bonus of between S$200 and S$300.Child Development Account.
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