Australian CPI vs Wage Price Index
When wages lag prices, real incomes fall. The 2022 to 2024 period was the steepest real-wage decline in the WPI series.
Series in this chart
- CPI YoY
/v1/data/abs/cpi - WPI YoY
/v1/abs/wpi
Code that produces this
cURL
curl https://api.ausdata.io/v1/real-wages \
-H "Authorization: Bearer YOUR_KEY"Methodology
Both as YoY percent change, quarterly.
Takeaways
- WPI peaked at 4.2 percent in late 2023.
- Real wages turned positive in early 2024 as CPI cooled.