While the growth is slower than economists were expecting, it is not expected to completely allay the RBA's concerns over a wage-price spiral.
abc.net.au/news/wages-growing-at-3-3-per-cent-december-quarter-2022/102007390Wages are growing at an annual pace of 3.3 per cent, according to new Australian Bureau of Statistics data.But real wages , have declined by 4.2 per cent over the past yearThe Wage Price Index rose by 0.8 per cent in the December quarter, lifting annual growth to 3.3 per cent for the year ending December.
In the September quarter, wages growth had jumped from an annual pace of 2.6 per cent to 3.2 per cent — the biggest jump in almost a decade — which concerned Reserve Bank officials.
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