Wage Price Index QoQ Australia
Event Date: Wednesday, May 17, 2023
Event Time: 02:00 CET
Wages Expected to Tick Lower to 0.8%
Updated Sunday, May 14, 2023
EVENT ENDED
Wages have been pretty steady in Australia. The pace of growth has been at around 0.5%-0.6% per quarter for more than two years. In Q2 and Q3 of last year, wages grew by 0.6% and in Q4 they were expected to grow by the same pace. But, they missed expectations growing by 0.5% which is still within the range. AUD/USD is the most affected pair from this data release. But, since rate hikes are widely anticipated to remain unchanged, the price action is expected to be minimal. AUD/USD is the most affected pair from this data release. So, wages were keeping a steady pace during last year. But, let's see how much they have cooled in Q1. Please follow us for live coverage of this event by experienced market analysts.
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About Wage Price Index QoQ Australia
Change in the price businesses and the government pay for labor, excluding bonuses. Released quarterly, about 45 days after the quarter ends by the Australian Bureau of Statistics. It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer.
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