The Australian Bureau of Statistics (ABS) Q3 national accounts showed that real per capita household disposable income has collapsed by around 8% from its Q2 2022 peak, the most significant decline in recorded history.
This also represented one of the greatest declines in real per capita disposable incomes in the advanced world.
...CPI inflation has been the number one drag on real household incomes. This makes sense given real wages—i.e., the ABS wage price index deflated by headline CPI inflation—have fallen by almost 7% from their peak, as illustrated below.
CPI inflation has been the number one drag on real household incomes. This makes sense given real wages—i.e., the ABS wage price index deflated by headline CPI inflation—have fallen by almost 7% from their peak, as illustrated below."
