Track the AU Wage Price Index q/q to gauge potential inflation shifts as businesses adjust labor costs.
This serves as a key indicator of consumer inflation; when companies incur higher labor costs, these expenses are typically transferred to consumers. Note that the series calculation formula was altered in November 2003.
What it Measures
It tracks the changes in labor costs paid by businesses and the government, excluding bonuses.
Usual Effect
When the 'Actual' figure exceeds the 'Forecast', it is typically favorable for the currency.
Source & Frequency
Australian Bureau of Statistics (latest release) - https://www.abs.gov.au/ • Data is published quarterly, approximately 45 days after the end of each quarter.
How Data is Derived
N/A
Also Known As
Wage Cost Index, Labour Price Index
Acronym
N/A