Australian Wages data Q4 2022: +0.8% q/q (vs. expected +1%) | Forexlive

Australian Q4 2022 Wage Price Index

+0.8% q/q

• expected 1%, prior 1%

+3.3% y/y

• expected +3.5%, prior +3.1%

The lower-than-expected result will be welcomed by the Reserve Bank of Australia, who are fearful of a wage-price inflation spiral higher. The bank will hike its cash rate on March 7 regardless. The rate is deeply negative and the Bank is way behind in its race to control inflation .