Australian Q1 Wage Price Index data 0.7% q/q
- expected 0.8% q/q, prior 0.7%
2.4% y/y
- expected 2.5% y/y, prior 2.3%
Private sector +0.65% q/q and +2.44% y/y
- Public sector up not quite so quickl;y at +0.56% q/q & +2.23% y/y
Given the rate of inflation is north of 5% real wages are falling substantially according to this data.
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Background:
