Price hikes outstrip pay: study

The outlook for households is now weaker than at any time since the 1980s.

Average living standards fell in the December quarter and the outlook for households is now weaker than at any time since the Hawke government in the 1980s.

An analysis by Canberra University’s National Institute for Social and Economic Modelling shows that wages rose by only 0.1 per cent in the quarter, one of the slowest rates on record, while living costs rose by 0.7 percentage points.

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