Salaries Grew Half As Much In The Past Year Than The 12 Months To March

Australian salaries grew an average of 2.0% in the 12 months to June 2013, down from an average of 4.1% in the 12 months to March, the Melbourne Institute has found.

According to the institute’s quarterly Survey of Consumer Inflationary Expectations, 53.4% of respondents got a raise in the past 12 months while 6.6% got a pay cut.

Australians had expected to receive a 2.4% raise on average, according to survey results last June.

Pay growth was significantly lower in NSW and WA (1.1%) than in Victoria (3.6%).

Survey respondents expected to pay to grow 2.7% on average in the coming 12 months, but expected prices to go up by 2.3% in the same period.

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