NZ wage inflation accelerates faster than consumer prices in 2Q, more hours worked

Mon, 06 Aug 2012

By Paul McBeth Aug. 7 (BusinessDesk) - New Zealand wage inflation outpaced gains in consumer prices in the second quarter as employers added to their payrolls with longer hours worked in the period. Private sector salary and ordinary time wages rose 0.5 percent in the three months ended June 30, according to Statistics New Zealand. That was a faster pace than the 0.3 percent increase in consumer prices, and matched expectations in a Reuters survey of economists. The annual pace of wage inflation was 2.1 percent. The number of total filled...

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