Inflation and middle-income households: What’s driving up prices and how to manage finances better
Experts give tips on how to manage inflation, which is driven mainly by higher prices of food, cars, health insurance and petrol.
Singapore's inflation rate has spiked across all household income groups in the first half of 2026, disproportionately affecting middle-income earners. Jason Chua, a 34-year-old F&B business owner with two young children, is grappling with the rising costs of daily necessities and business overheads. Milk powder prices have increased from $72 to $79.50 for a 1.6kg tin, while Chua's daily transportation costs have nearly doubled due to higher petrol prices.
Chua attributes his financial strain to supply chain disruptions caused by the Iran conflict, which has raised the cost of raw ingredients for his business. Despite these challenges, Chua remains financially stable, supplementing his income through Grab deliveries and avoiding lifestyle inflation. The government has pledged further assistance to mitigate the impact of inflation, with a new $900 million support package.
Despite the tough economic environment, some experts believe that proper cash flow management can help individuals cope with these increasing costs.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
