Household spending power expected to fall over coming year

Thu, 07 May 2020

Virtually flat wages aren’t expected to keep pace with weak inflation over the coming year, meaning households will effectively be earning less, according to the Reserve Bank’s latest quarterly survey. The 34 professional economic forecasters, financial service providers and business managers who responded to the survey anticipate annual inflation of just 0.7 percent in the year ahead, outstripping the 0.2 percent increase in wages over the same period. The Reserve Bank said that dynamic meant the respondents expected real wages to fall 0...

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