Workers set to take a real pay cut of 1.5% as inflation surges, RBA boss warns
by Ben Butler from World news | The Guardian on (#5XC3Z)
Philip Lowe hopes inflation spike a one-off caused by supply chain disruption and soaring oil prices due to Ukraine invasion
The governor of the Reserve Bank of Australia, Philip Lowe, has warned Australians they are set to take a real pay cut of 1.5% this year because sluggish wages growth won't meet a surge in inflation.
Lowe said he was hopeful the inflation spike was a one-off caused by supply chain disruption and soaring oil prices due to Russia invading Ukraine, but there were signs that business operators were increasingly willing to jack up prices.
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