ABS figures show workers received an average base pay increase of 3.4 per cent over the year to September, in line with the previous quarter and economist forecasts.

That pay rise has again slightly outpaced consumer price inflation, which rose to 3.2 per cent over the same period. It means the average worker saw a small increase in their purchasing power.

However, the annual pay increase was slightly down on the same period a year earlier, when workers saw their base pay packets rise 3.5 per cent on average.

Wage growth peaked at 4.2 per cent in the December quarter of 2023, after remaining stuck below 2.5 per cent from the start of 2015 to early 2022.

The ABS Wage Price Index (WPI) measures base pay, and does not include additional payments like overtime and bonuses. Loading

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