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ABC News
ABC News
Business
business reporter Gareth Hutchens

Australians experienced their largest real wage decline on record in 2022

RBA
In the December quarter, the wage price index was growing at an annual rate of 3.3 per cent. (AAP: Darren England)

Australians have experienced their largest real wage decline on record, with nominal wages growing by 3.3 per cent in 2022, well below inflation of 7.8 per cent.

The Wage Price Index (WPI) rose by 0.8 per cent in the December quarter, lifting annual wages growth to 3.3 per cent, according to new Australian Bureau of Statistics data.

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