Median household income has increased more than a thousand to $11,780 per month compared to 5 years ago. This is 2.4% increment per year or 2.2% per year if taking inflation rate into consideration.
At the same time, Singaporean is enjoying better living standard for the same period of time. Housing, dining and transport form as much as 62% of the monthly spending. Interestingly, expenses on restaurant rose 4% to 68% of overall food spending. Meanwhile transport cost dropped to $780 from $810 previously due to lower utilisation of private vehicle, following a decline in car ownership.
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