Australia Seen Hitting 3% Wage Growth as Inflation Risks Linger

From bnnbloomberg.ca

Australia’s central bank Governor Philip Lowe is likely to see the faster wage growth he’s spent much of his six years at the helm rooting for in an economy that’s weathering its hottest inflation in three decades. Economists predict government data Wednesday will show the Wage Price Index advanced 3% in the third quarter from a year earlier, the fastest pace since the first three months of 2013. In the current environment of rapid price gains, that level of wage growth is still relatively contained compared with other economies from Washington to Wellington. The Reserve Bank has also said wage increases remain ... (full story)