Wages are normally the key to service sector inflation (Australia)
AUSTRALIAN SERVICE SECTOR INFLATION & WAGE GROWTH
7
7
SERVICE SECTOR INFLATION†
6
6
5
5
4
4
3
3
2
2
1
1
WAGE PRICE INDEX*
0
0
-1
-1
* ALL SECTORS, EXCLUDING BONUSES. † CPI ALL GROUPS SERVICE COMPONENT. ADJUSTED FOR GST.
-2
-2
99 01 03 05 07 09 11 13 15 17 19 21 23 25
1
Sources: ABS, NBER
22
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