Low inflation – time for meaningful wage increases

unitenews

CTU Media release

With inflation low, now is a good time for workers to negotiate for pay increases that outstrip price rises and deliver real increases in wages and salaries. “For too many people, real pay increases have been missing for several years unless they worked longer hours,” CTU economist Bill Rosenberg says. “Productivity has been rising for several years but hasn’t been recognised in pay increases.”

“Housing and electricity costs are driving annual inflation. At an annual increase of 1.0 percent overall inflation is lower than expected and almost 80 percent of that is housing and energy costs. The Reserve Bank should be considering lowering interest rates rather than raising them. The focus should be on lowering housing costs by building more houses and improving state rental housing and private tenancy conditions rather than risking the uneven recovery with higher interest rates.” Rosenberg said.

Over the year, housing and…

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