CBA: Wage and inflation pressures building
MacroBusiness Access Subscriber Only Content By Gareth Aird, head of Australian economics at CBA: Key Points: The Australian economic data dump this week added weight to our view that wages and inflation outcomes will be stronger than the RBA has forecast. The Q1 21 wage price index printed a little higher than market expectations and indicates that underlying wages growth is running at a six month annualised pace of2.0%. Both the unemployment and underemployment rates dropped in April to leave underutilisation at its lowest level since December 2019. The Government’s internet vacancy index...
Source: macrobusiness.com.au