🦁 Singapore Salary Check 2025 – 2026: What Actually Got More Expensive (and How Much Raise You Need)

By MERLION$ | Merlion Finance

Everybody keeps asking, “Eh why everything feel more expensive ah?”

Short answer: some stuff did creep up, some actually cooled, and some did the yo-yo.

Here’s the no-nonsense 2025 snapshot – and what kind of 2026 pay raise you should be bargaining for so you don’t kena poorer quietly.

📈 Inflation: Lower overall, but pain points still there

MAS says 2025 core inflation stayed very low (around 0.5–1.5% for the year), and cooled further into Q3. Translation: broad price pressures eased, but not all categories behave one. Monetary Authority of Singapore+1

Food: Still inching up – around +1–2% y/y range through 2025. Your cai png didn’t moon, but it didn’t get cheaper either. Base+1
Overall CPI: Hovered sub-1% to ~1% y/y most months; not a price explosion year. Ministry of Trade and Industry

Also remember: GST is 9% from 1 Jan 2024 – that lifted the general price level and never goes back down, even when inflation “cools.” Default+1

🏠 Housing: Still firm, not crazy

HDB’s Resale Price Index in Q3 2025: 203.7, up +0.4% q/q – so prices are still edging up, just not sprinting. October saw a small monthly dip, but overall 2025 stayed resilient. Housing & Development Board+1

TL;DR: No firesale, no moonshot — just slow grind up.

🚗 Transport: COE did the rollercoaster

COE premiums smashed records in early Oct, then pulled back sharply in November’s first tender (all categories fell). Still pricey, but the fever cooled a bit. The Business Times+1

Public transport fares: 2025 review = +9–10 cents per trip for adults. PTC even said hikes could’ve been higher if not staggered across years. So… yes, your daily commute tab is up a little. PTC+1

⚡ Utilities: Mixed picture

Electricity tariffs swung with energy costs – e.g., down 2.3% for Jul–Sep 2025 vs previous quarter. Not exactly a bill-crusher, but not pain either. spgroup.com.sg

Water price: Phase 2 hike took effect 1 Apr 2025 (final +30¢/m³, total +50¢ over two years). Small per litre, but it stacks across households and businesses. PUB, Singapore’s National Water Agency+1

🍜 Food & groceries: Sticky lah

Official food inflation hovered roughly ~1–1.5% y/y through 2025 – i.e., “slow creep.” Oils/fats & staples saw some upward pressure, seafood sometimes eased – but your basket still nudged higher over the year. Base

🧾 So… what increment do you actually need in 2026?

Let’s be practical, not academic:

Headline inflation looked tame in 2025, but base costs are higher after GST 9%, transport fare hikes, water price step-up, and sticky food. Default+2PTC+2
MAS/MTI expect inflation to stay low-ish into 2026 (core ~0.5–1.5%). Good news… but doesn’t roll back earlier increases. CNA
The Government accepted NWC 2025–2026 guidelines (wage growth anchored to productivity/resilience) – i.e., companies are nudged to keep real wages positive where business allows. Ministry of Manpower Singapore

Merlion’s bargaining bands (realistic, not fantasy)

Minimum to stand still (cover 2025 price creep + administered hikes already baked in): ~3–4%
Keep ahead modestly (account for transport, utilities, food drift + some savings room): ~4–6%
High exposure households (car/COE, frequent dining, childcare/tuition, bigger utilities): ~6–8% if business performance supports it

If your firm had a strong year or your role is in-demand (AI/data, cyber, revenue functions), don’t be shy to target the upper band. If business is soft, anchor at 4–5% + variable bonus.

🧠 How to frame your 2026 review (SG-style tactical)

Bring receipts: Show 2025 outcomes (projects shipped, savings delivered, revenue influenced).
Position against market: “PTC fare hikes, water step-up, persistent food costs, GST at 9% – asking for 5–6% keeps real wages flat-to-positive.” PTC+2PUB, Singapore’s National Water Agency+2
Offer flexibility: Mix of base + one-off (lump-sum/allowance) if budgets tight.
Skills premium: If you’re upskilling into hot areas (AI, cloud, cyber), anchor a skills increment line item.

🦁 Bottom line

2025 wasn’t a “die die” inflation year, but cost anchors shifted up and stayed there. Housing stayed firm, transport saw small fare hikes and wilder COE swings, utilities mixed, food sticky. For 2026, a 4–6% increment is a sensible target for most; 6–8% if you’ve got leverage and your firm can afford it.

Stay rational, ask smart, and as always –
🦁 Stay ballin’. – MERLION$ | MerlionFinance.com

The Merlion Baller