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Main Indicator: Wage Price Index q/q
Most Recent Release
|
Actual | Forecast | Previous | Revised Form | |
| 0.9% | 1.1% | 1.1% | N/A | ||
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For 1st Quarter
Wage Price Index y/y: 4.1%, forecast 4.3%, pr. 4.2% (4th Q), 4.2% (3rd Q) Wage inflation in the 1st quarter was lower in Australia than economists had forecast. Quarter-on-quarter the wage price index rose 0.9%, slower than the 1.1% seen in the 4th quarter. The annual pace declined to 4.1%, lower that the previous 2 quarters. Wages had been going up at a fast pace as Australia's commodity export sector is booming and demand for labor was strong. The tight labor market from the 4th quarter may have given way to expectations of a slowdown. |
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Table of Past Data
| 2/21 | 5/16 | 8/15 | 11/14 | 2/20 | 5/15 | 8/14 | 11/13 | 2/19 | 5/13 | ||
| Actual | 0.90% | 0.90% | 1.10% | 0.80% | 1.10% | 1.00% | 1.1% | 1.0% | 1.1% | 0.9% | |
| Forecast | 1.00% | 1.10% | 1.10% | 0.90% | 0.90% | 1.30% | 1.0% | 1.0% | 1.1% | 1.1% | |
| Previous | 1.00% | 0.90% | 0.90% | 1.10% | 0.80% | 1.10% | 1.0% | 1.1% | 1.0% | 1.1% | |
| Revised From | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |
Past Releases
|
Actual | Forecast | Previous | Revised Form | |
| 1.1% | 1.1% | 1.0% | N/A | ||
|
For 4th Quarter
Wage Price Index y/y: 4.2%, pr. 4.2% (3rd Q) Australian wages growth accelerated in the 4th quarter. This is another sign to the Reserve Bank of Australia that inflation, which has reached the fastest level since 1991, needs aggressive action. The bank is likely to increase rates from 7%, an 11-year high, when they meet next on March 4th. |
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Actual | Forecast | Previous | Revised Form | |
| 1.0% | 1.0% | 1.1% | N/A | ||
|
For 3rd Quarter. Wage Price Index y/y: 4.2% (3rd Q), forecast 4.2%, pr. 4.0% (2nd Q) |
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Actual | Forecast | Previous | Revised Form | |
| 1.1% | 1.0% | 1.0% | N/A | ||
| Seasonally adjusted for the June quarter, private sector wage index rose 1.0% while the public sector's index grew 1.1%. Electricity, gas and water supply industry employee wages grew 2.0%. The index for this year's June quarter is 4.0% higher than that of the 2006 June quarter. | |||||
|
Actual | Forecast | Previous | Revised Form | |
| 1.00% | 1.30% | 1.10% | N/A | ||
| National minimum wage had been increased effectively Dec 1, 2006. Set by the Australian Fair Pay Commission (AFPC), the ruling has caused some wage changes in the March 2007 quarter. Pay increases were higher this quarter than last years March quarter. | |||||
|
Actual | Forecast | Previous | Revised Form | |
| 1.10% | 0.90% | 0.80% | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| 0.80% | 0.90% | 1.10% | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| 1.10% | 1.10% | 0.90% | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| 0.90% | 1.10% | 0.90% | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| 0.90% | 1.00% | 1.00% | N/A |