The price freeze and promotions aim to reduce consumers’ financial pressure amidst the festive period.
FairPrice Group (FPG) announced on 18 January 2024 that it will freeze prices on popular seafood items and introduce promotions on selected FairPrice vegetables for the upcoming Lunar New Year period.
The price freeze and promotions are a bid to alleviate the financial strain on households amidst rising inflation and an increase in the Goods and Services Tax (GST).
The move is part of FPG’s commitment to support Singaporeans during the festive season, traditionally marked by gatherings and celebrations with extended families and loved ones.
The social enterprise has been actively implementing various measures, from GST absorption to CDC return vouchers, to ease the burden on household budgets.
FPG Group CEO Vipul Chawla said that the company is aware of the challenges faced by families during the festive season.
He added: “Chinese New Year holds immense significance for customers across Singapore, and we are mindful of the challenges that families may be facing. At the same time, higher demand for produce like seafood and vegetables during the festive period inevitably drives prices up, and our price freeze is aimed at helping customers alleviate this pressure.
“As Singapore’s largest retailer, we want to reaffirm our commitment to easing consumers’ financial burdens and giving all in Singapore even more reasons to celebrate this festive season.”
FPG’s market surveys from 5 to 18 January 2024 revealed a gradual price increase for popular fresh produce, such as Chinese Pomfret and Red Grouper, sold at wet markets across Singapore.
The surveys revealed that prices at FairPrice stores were an average of 44 per cent lower.
Customers are encouraged to visit their nearest FairPrice store for further details on the promotions.