Australia’s Wage Growth Slows, Underlining Easing Price Pressure
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Australia’s wage growth slowed in the third quarter, reflecting an easing in price pressures across the economy and reinforcing expectations that the next move in interest rates will be down.
The Wage Price Index advanced an annual 3.5% in the three months through September, compared with 4.1% in the prior period and economists’ estimate of 3.6%, Australian Bureau of Statistics data showed Wednesday. On a quarterly basis, wages grew 0.8%, slightly lower than forecast.