Australia Wage Price Index for Q4 2021 +0.7% q/q (vs. expected 0.7%)

Australia Wage Price Index for Q4 2021

+0.7% q/q in line with the central estimates

• expected 0.7% q/q, prior 0.6%

+2.3% y/y for a miss

• expected 2.4% y/y, prior 2.2%

• with inflation circa 3.5% real wages are well in the negative

Private sector wage growth 2.4% & public 2.1%

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This data point is measure in the middle of each quarter. Its very likely wage growth towards the end of the quarter was higher than in the middle.