In response to continued inflationary pressure, NTUC FairPrice is again helping to reduce the impact of higher inflation on the community by extending its well-received 5 percent discount scheme on 500 housebrand items for another three months, till end October 2008. This move comes after MAS revised up its inflation forecast for 2008 for the third time.
FairPrice first introduced the 5 percent discount scheme in December last year as part of its Stretch the Dollar programme to help consumers mitigate the rising cost of living. Initially due to end in February 2008, the scheme was extended twice to end July 2008. The extension till end October 2008 will help consumers save up to S$1.5 million.
NTUC FairPrice Group CEO Mr Tan Kian Chew said, “The 5 percent discount on our housebrand items has helped many of our customers cut their grocery bills, especially on essential food items. In view of continued inflationary pressure, we have decided to continue to help our customers fight the inflation war by extending the discount scheme for another three months. We will assess the impact of the scheme at the end of October and find other suitable ways to moderate the cost of living if needed”.
Despite rising costs, FairPrice housebrand items are still priced at least 10 percent cheaper than comparable national brands. With the 5 percent discount, consumers can save at least 15 percent on 500 essential housebrand items. These 500 items such as rice and cooking oil, are popular essential items which can help to reduce customers’ grocery bills significantly.
Besides moderating the cost of living with the 5 percent discount on FairPrice essential housebrand items, FairPrice offers five items every week at deep discounts. Since 1994, FairPrice’s basket of 400 Everyday Low Priced items has set benchmark prices for essential items. On top of that, senior citizens get an additional 2 per cent discount when they shop at FairPrice on Tuesdays and members get rebates and Linkpoints for their purchases.
NTUC FairPrice also lends a helping hand to needy families through donations. Just last Sunday (20 July), NTUC FairPrice Foundation presented S$1.5 million worth of FairPrice vouchers, under the FairPrice Food Voucher Scheme, to help needy families all across Singapore cope with the impact of rising cost of living.