It is impossible for wages to drive inflation when they are actually rising slower than inflation
Wed 15 May 2024 11.00 EDT
Remember all that talk about wage-price spirals? About wages driving inflation? All that worry about a wages breakout causing interest rates to rise? Ahh yes, good times. It seems that many commentators and economists love fairytales, and the story that wages were causing inflation was never true and the figures released on Wednesday by the Australian Bureau of Statistics show just how much of a struggle it…
