Driven by our commitment to moderate the cost of living in Singapore, especially during times of crises, we extended the FairPrice Housebrand Price Freeze initiative for 6 months from June to December 2020, to allay concerns on rising prices of food amidst the COVID-19 pandemic. The initiative, comprising a price freeze of 100 of the most popular housebrand everyday essentials, sought to cushion Singaporeans against potential price hikes, regardless of growing concerns over disruption of food supply lines due to COVID-19. The price freeze also acted as a benchmark for prices of everyday essentials, ensuring they remain affordable as a whole.
Over the years, the FairPrice housebrand range of products, which is priced at least 10 per cent cheaper compared to leading brands, has helped defray daily expenses and provided good quality everyday essentials for Singaporeans. The six-month price freeze extension provided an additional S$6.7 million in savings to shoppers.