Australia’s Wage Growth Slows Further, Validating RBA Rate Cut

Australia’s wage growth slowed further in the final three months of last year, reflecting an easing in price pressures across the economy and vindicating the Reserve Bank’s decision to finally ease monetary policy.

The Wage Price Index advanced an annual 3.2% in the fourth quarter of 2024, compared with an upwardly revised 3.6% in the prior period and matching economists’ estimate, Australian Bureau of Statistics data showed Wednesday. That was the biggest wages slowdown for any full year since 2009.