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The Guardian - AU
The Guardian - AU
National
Peter Hannam Economics correspondent

Inflation rate to halve, bringing wage growth by 2024, federal budget predicts – with hope of mortgage relief

Inflation Federal Budget Australia RBA Economy United States Deficit OECD Reserve Bank
piggy bank
Australian workers should start to enjoy wages growing faster than inflation by early next year, the 2023 federal budget predicts. Photograph: Mike Bowers/The Guardian

Australian households face a couple of tough years but an easing inflation rate should deliver real wage growth by 2024 and the potential for lower mortgage repayments sooner, the budget predicts.

The economy remains relatively resilient even as global growth slows to its worst performance in more than two decades.

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