Australian wages growing at 3.1%, less than half the pace of inflation

The wages price index for the September quarter fell far short of the 7.3% pace of consumer price increases

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Real Australian wages are contracting at a record rate, with the wage price index increasing in the September quarter at less than half the pace of headline inflation, official data shows.

The WPI came in at an annual rate of 3.1%, far shy of the 7.3% pace of consumer price increases for the period, the Australian Bureau of Statistics said.