Australian Wages Growth Lifts Again, Remains Far Below Inflation

A shopper holds a retail bag in Pitt St Mall, Sydney, Australia, on Feb. 1, 2022. AAP Image/Bianca De Marchi

Australian wages growth has accelerated for the second consecutive quarter but continues to lag inflation, according to newly released data from the Australian Bureau of Statistics (ABS).

The annual rate of wages growth was 2.4 percent, and while it is the highest annual rate recorded since December 2018, it fell below expectations.