Consumer Price Index (CPI) data released today shows that Hobart inflation has reached 6.5%, much higher than the national average of 6.1%.
This makes Hobart’s CPI the fourth highest in the country behind Perth, Brisbane, and Darwin.
With Tasmanian wages only growing at 2.8% on the most recent data available, this means inflation is now outstripping wages by more than double.
When wages don’t keep up with living costs, that’s a real pay cut for working people.
“Today’s inflation data underscores the desperate need for workers to win pay rises that allow their wages to keep pace with ever rising living costs,” said Unions Tasmania Secretary, Jessica Munday.
“The need to get wages moving is urgent. Waves have been going backwards for ten years now. Meanwhile, prices are going up on the basics like food, fuel, and rent – things people need to survive,” said Ms Munday.
“The Jobs Summit announced by the Albanese Labor Government presents a real opportunity to address this wages crisis for working people across our country.”
“At a state level, it also makes the Liberal Government’s budgeted 2.5% for public sector wage rises even more woeful than it already was. They will need to come to the table with improved pay offers and send a signal to the private sector that they should do the same,” said Ms Munday.
For further information contact Jessica Munday on 0417 454 809