Median monthly household income from work in Singapore rose to S$11,297 in 2024 from S$10,869 in 2023, or by 1.4 per cent in real terms after adjusting for inflation. Meanwhile, the Gini coefficient – which measures income inequality – was 0.364, lower than the 0.371 in 2023, and the lowest since records began in 2000. Andrea Heng and Hairianto Diman assess the significance of the figures and what they reflect about Singapore’s income position with Professor Sumit Agarwal, Professor of Finance, Real Estate and Economics, NUS Business School

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