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Australia's WPI Rebounds To 2.2% In The Third Quarter

Australia's WPI Rebounds To 2.2% In The Third Quarter

Australia announced that the Wage Price Index (WPI) in the third quarter rose from 1.7% in the second quarter to 2.2% year-on-year, which was in line with market expectations and returned to the level of growth before the epidemic. On a quarterly basis, WPI increased by 0.6%, which was higher than market expectations of 0.5% and 0.4% of the previous value. During the period, private wages increased significantly by 2.4% year-on-year, while for public sector wages rose by 1.7% year-on-year. Although the year-on-year increase in Australia's WPI is still far from the 3% that can continue to boost inflation, it has gradually moved away from the record low of 1.4% set at the end of last year.
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