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Business

Jacob Shteyman

Real wages boost for workers, but costs might worry RBA

Michele Bullock RBA Reserve Bank Inflation Belinda Allen Joel Carrett Economic Growth

Wages growth has recorded a healthy increase, but it may mean bad news for further rate cuts. (Joel Carrett/AAP PHOTOS)

Workers have enjoyed the strongest annual growth in real wages in more than five years, but the Reserve Bank will be on alert in case labour costs cause inflation to fire up again.

Wages grew by 3.4 per cent in the year to June, slightly above expectations, the Australian Bureau of Statistics reported on Wednesday.

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