Q1 Wage Price Index data coming up Wednesday 18 May 2022 is coming at 0130 GMT
- expected 0.8% q/q, prior 0.7%
- expected 2.5% y/y, prior 2.3%
Some analysts previews.
- Australian wage data will be closely watched, with a stronger than expected gain upping the odds of the RBA delivering a larger 40-50bps increase in the cash rate next month.
- Along with business and consumer surveys reporting meaningful rises in wages, we are looking for the Wage Price Index quarterly pace to lift to 0.8% from 0.7%. A rise closer to, or above 1.0% would be a surprise given the lags between labour market conditions and wages plus the structure of the WPI.
AUD update, has lost further ground despite the RBA rate hike this month. May 3: