SINGAPORE — Median household income in Singapore grew 0.2 per cent in 2022 after accounting for inflation, in figures released on Thursday (Feb 9) by the Singapore Department of Statistics.
Among resident-employed households, median monthly household income from work grew by 6.1 per cent in nominal terms, from S$9,520 in 2021 to S$10,099 last year. But after accounting for inflation, the gain translated to 0.2 per cent.
Meanwhile, households in the first nine deciles saw real income growth of 1.1 to 10.1 per cent, with lower income groups experiencing larger increases.After adjusting for government transfers and taxes, the Gini coefficient in 2022 is 0.378, the second lowest on record. This was higher than the $5,257 received in 2021, due to support measures to cushion the impact of the GST rate hike and inflation.
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