Australia - Q2 Wage Price Index in line with expectations

0.5% q/q

  • expected 0.5% q/q, prior 0.5%

1.9% y/y

  • expected 0.5%, prior 1.9% y/y

q/q rises graphed (via Bloomberg):

Between 0.4% and 0.6% q/q rises since mid 2014.

Slow wage growth, combined with high household debt weighing on spending ... this is the RBA concern and it won't be going away soon based on today's data

More:

  • private sector wages rose 1.8% y/y
  • public sector wages +2.4% y/y