Australian Wages data Q4 2022: +0.8% q/q (vs. expected +1%)

Australian Q4 2022 Wage Price Index

+0.8% q/q

• expected 1%, prior 1%

+3.3% y/y

• expected +3.5%, prior +3.1%

The lower-than-expected result will be welcomed by the Reserve Bank of Australia, who are fearful of a wage-price inflation spiral higher. The bank will hike its cash rate on March 7 regardless. The rate is deeply negative and the Bank is way behind in its race to control inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term.

The cash rate is not the only thing deeply negative. With y/y CPI at 7.8% (or 8.4% if you prefer the latest monthly result) and wage growth at +3.3% real wages are also negative.