Wednesday, 21 May 2014

No inflation problem on the Australian wages front

No signs in this morning's Australian Bureau of Statistics wage price index figures that wage rises are going to create any inflationary problem. The trend index and the seasonally adjusted index for Australia rose 2.6% through the year to the March quarter 2014.

In the March quarter 2014, the Northern Territory recorded the largest quarterly rise of 0.9% and the Australian Capital Territory the smallest rise of 0.2%.

Quarterly rises in South Australia (0.6%), Western Australia (0.6%) and the Australian Capital Territory (0.2%) were smaller in the current quarter than in the March quarter 2013. All other states and territories recorded larger rises compared to the quarterly changes the year before.

Rises through the year ranged from 2.3% for Tasmania and the Australian Capital Territory to 3.2% for South Australia.
Rises in the original indexes through the year to the March quarter 2014 at the industry level ranged from 1.9% for Professional, scientific and technical services to 3.3% for both Electricity, gas, water and waste services and Arts and recreation services.
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