And today's wage data from the Bureau of Statistics showed real wages grew by 1% in the March quarter, which was the fastest pace in real wage growth in the post-COVID era. It's a big part of the story of the "cost of living crisis." Inflation is now back within the Reserve Bank's 2-3% target range, but households will need to see real wage growth for many more quarters before they feel like they're finally getting ahead again, after years of high and rising inflation.
Author: David Chau
Published at: 2025-05-13 22:09:20
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