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Australia to recommend minimum wage rise in line with inflation

Australia's government will support a minimum wage increase in line with inflation this year as low-income families continue to grapple with costs of living, although the rise would be smaller as inflation eased. In a submission to the Fair Work Commission's 2023-24 Annual Wage Review to be unveiled on Thursday, the Labor government will recommend the increase to ensure "the real wages of the low-paid workers do not go backwards", a position the government has held in the last two years. ....

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'Here to Stay': Higher Prices for Some Goods Permanent Reality of Biden Economy

President Joe Biden’s plans to tout his stewardship of the US economy during his reelection campaign hit a snag yesterday when it was revealed that year-on-year core inflation stood at 3.9% through January. Now one economist warns that the prices of many basic goods will likely remain high even if inflation slows. ....

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