Real wages have fallen for two quarters in a row and are almost back at the 14-year lows reached in 2023, undercutting Albanese government claims that wage gains are finally outstripping inflation.
Consumer prices increased by 2 per cent over the six months to June on a seasonally adjusted basis, while wages grew by just 1.7 per cent, the Australian Bureau of Statistics said on Tuesday.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
