In total, some three million adults will get the vouchers, which are estimated to cost the Government a total of $2.02 billion. 

This translates to a decrease of S$2.36 before GST for average monthly electricity bills of families living in HDB four-room flats, SP Group said.

The decision to issue an RO will be made by a police officer, based on an assessment of the facts and circumstances of each case, said the ministry.

For example, people living in a four-room flat will get $150 and half a month respectively in rebates for their U-Save and S&CC.

With effect from Aug 1, the maximum interest rate of the local lender’s flagship savings account will be lowered to 5.45 per cent per annum on the first S$100,000, from the current 6.3 per cent,

While global crude oil prices have risen in recent weeks, they are still close to the average in 2024. Meanwhile, food commodity price increases should stay contained.

The International Monetary Fund estimates that a 10 per cent rise in oil prices lowers global gross domestic product (GDP) growth by 0.1 to 0.2 percentage point.

It was also the lowest level that yields have hit in the year to date and marked the seventh consecutive issuance since Mar 26 for which yields have declined.

The latest forecast is also shy of the higher end of the zero per cent to 2 per cent range projected by the Ministry of Trade and Industry (MTI) in April.

Eligible Pioneers will receive enhanced annual top-ups ranging from $300 to $1,200 in July, up from $250 to $900 in 2024.

Analysts said this suggests that the front-loading of orders that propped up exports in April has cooled, and the trade outlook remains rife with tariff uncertainty.

By the end of the year, Mr. Stanley expects consumer prices to accelerate to a 3 percent annual pace, as measured by the Consumer Price Index, with big increases in June and July.