Wages growth hits a decade high, but no smoking gun for another RBA interest rate hike

The ABS said 60 per cent of jobs recorded a higher wage rise over the year to March when compared to the year before. (ABC News: John Gunn)

Wages growth is at its highest level since 2012, with around 50 per cent of workers seeing pay increases above 3 per cent, but only about one-in-10 employees are seeing wage increases even close to matching inflation.

The official Wage Price Index (WPI) from the Australian Bureau of Statistics (ABS) showed pay packets lifted 0.8 per cent in the March quarter and 3.7 per cent over the year to March.