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Australia Wage Price Inflation Slows In Q3

Australia’s wage price growth slowed in the September quarter, figures from the Australian Bureau of Statistics showed on Wednesday.

The wages price index climbed a seasonally adjusted 0.5 percent in the third quarter, after a 0.6 percent rise in the second quarter. That was in line with economists’ expectation.

On a yearly basis, wages also increased 2.2 percent in the third quarter, after a 2.3 percent rise in the previous quarter. Economists had expected a 2.3 percent increase.

Wages in the public sector grew 2.5 percent over the year and those in private sector rose by 2.2 percent.

“The largest contribution to wage growth over the quarter was jobs in the health care and social assistance industry,” the ABS Chief Economist Bruce Hockman said.

The material has been provided by InstaForex Company – www.instaforex.com