In 2025 wages grew slower than inflation, which means that wages clearly are not the cause of rising prices. Not only have workers seen their purchasing power decline, but the RBA’s decision to raise interest rates has once again punished them for inflation that was not their fault.
Before I go any further, excuse me while I go to the calendar and mark off yet another three months without a wage breakout. It’s a ritual I have been able to do my entire working life.
