Singaporeans across all income groups are spending an average of 2.7 per cent more each year across five years - from 2002 until 2008.
There's no cause for worry yet, as Singaporeans across all income groups are also earning more now than we used to, with the average monthly household income growing 6.1 per cent per year from $5,540 in 2002/03 to $7,440 in 2007/08.
However, the income gap between the rich and poor in Singapore is widening. The average increase in income for the top 20 per cent households in Singapore over five years was 6.8 percent while the figure for the lowest 20 per cent of households in Singapore was significantly lower at 2.9 per cent.
In 2007/08, those living in private housing spent an average of $7,090 per month on household expenditure. This figure is more than twice of the average monthly household expenditure of those living in HDB flats, according to the latest Household Expenditure Survey released today.
Interestingly, more than 60% of our money was spent on food, food serving services and transport. According to the survey, this is due to rising food and petrol prices as well as households' preference for dining out.
The survey, conducted once every five years by the Department of Statistics, also showed home ownership rates remained at the same level that from 2002 to 2008, but there was greater access to consumer items.
For example, almost all households owned television sets in '08, a 1 per cent increase in the figure from 2002/03. The percentage of households with Pay-TV subscriptions also increased 10 per cent to 45 per cent in 2002/03.
Here's what else the survey revealed:
Household expenditure
* Increases in household expenditure among the top 80 per cent of households ranged from 2.6 to 3.4 per cent each year while the increase among the lowest 20 per cent of households was 1.1 per cent.
* The average monthly household expenditure increased by 2 to 3 per cent per annum among households in private housing and HDB 5-room and bigger flats. Households in HDB three- and four-room flats experienced a slower growth rate of 1.5 to 1.9 per cent while the growth rate of households in HDB 1- and 2-room flats declined slightly by 0.7 per cent.
* Spending on healthcare grew by 5.8 per cent per annum with increases in expenditure on hospitalization, specialized medical treatment, dental services and pharmaceutical products.
* The proportion of household expenditure spent on food and nonalcoholic beverages decreased as household income increased. Among the lowest 20 per cent of households, it accounted for 12 per cent of household expenditure while it only accounted for 5.6 per cent for the top 20 per cent households.
* Those living in HDB spent 16 per cent more on food than those living in private housing.
Household income
* On average, employment income contributed 83 per cent of total household income from all sources. Business income contributed 12 per cent while the remaining 4.7 per cent of total household income was from non-work sources such as rental, investment, cash contribution from relatives/friends, social welfare grants, etc.The lowest 20 per cent of households were more reliant on income from non-work sources than other income groups.
Ownership of property and consumer items
* The proportion of households with air-conditioners increased from 4 per cent to 75 per cent.
* The proportion of households with cars increased slightly from 35 per cent in 2002/03 to 38 per cent in 2007/09.
* The percentage of households with internet subscriptions increased 15 percent to 70 per cent cent.
* The average monthly household expenditure on communication also increased by 4.1 per cent per annum due to the higher spending on mobile phone subscriptions and call charges as well as internet subscriptions.
* In contrast, the average household expenditure on residential telephone fixed-line subscriptions and call charges declined, showing households preferred to use mobile phones and internet instead.
There's no cause for worry yet, as Singaporeans across all income groups are also earning more now than we used to, with the average monthly household income growing 6.1 per cent per year from $5,540 in 2002/03 to $7,440 in 2007/08.
However, the income gap between the rich and poor in Singapore is widening. The average increase in income for the top 20 per cent households in Singapore over five years was 6.8 percent while the figure for the lowest 20 per cent of households in Singapore was significantly lower at 2.9 per cent.
In 2007/08, those living in private housing spent an average of $7,090 per month on household expenditure. This figure is more than twice of the average monthly household expenditure of those living in HDB flats, according to the latest Household Expenditure Survey released today.
Interestingly, more than 60% of our money was spent on food, food serving services and transport. According to the survey, this is due to rising food and petrol prices as well as households' preference for dining out.
The survey, conducted once every five years by the Department of Statistics, also showed home ownership rates remained at the same level that from 2002 to 2008, but there was greater access to consumer items.
For example, almost all households owned television sets in '08, a 1 per cent increase in the figure from 2002/03. The percentage of households with Pay-TV subscriptions also increased 10 per cent to 45 per cent in 2002/03.
Here's what else the survey revealed:
Household expenditure
* Increases in household expenditure among the top 80 per cent of households ranged from 2.6 to 3.4 per cent each year while the increase among the lowest 20 per cent of households was 1.1 per cent.
* The average monthly household expenditure increased by 2 to 3 per cent per annum among households in private housing and HDB 5-room and bigger flats. Households in HDB three- and four-room flats experienced a slower growth rate of 1.5 to 1.9 per cent while the growth rate of households in HDB 1- and 2-room flats declined slightly by 0.7 per cent.
* Spending on healthcare grew by 5.8 per cent per annum with increases in expenditure on hospitalization, specialized medical treatment, dental services and pharmaceutical products.
* The proportion of household expenditure spent on food and nonalcoholic beverages decreased as household income increased. Among the lowest 20 per cent of households, it accounted for 12 per cent of household expenditure while it only accounted for 5.6 per cent for the top 20 per cent households.
* Those living in HDB spent 16 per cent more on food than those living in private housing.
Household income
* On average, employment income contributed 83 per cent of total household income from all sources. Business income contributed 12 per cent while the remaining 4.7 per cent of total household income was from non-work sources such as rental, investment, cash contribution from relatives/friends, social welfare grants, etc.The lowest 20 per cent of households were more reliant on income from non-work sources than other income groups.
Ownership of property and consumer items
* The proportion of households with air-conditioners increased from 4 per cent to 75 per cent.
* The proportion of households with cars increased slightly from 35 per cent in 2002/03 to 38 per cent in 2007/09.
* The percentage of households with internet subscriptions increased 15 percent to 70 per cent cent.
* The average monthly household expenditure on communication also increased by 4.1 per cent per annum due to the higher spending on mobile phone subscriptions and call charges as well as internet subscriptions.
* In contrast, the average household expenditure on residential telephone fixed-line subscriptions and call charges declined, showing households preferred to use mobile phones and internet instead.
