Annual wage inflation measured by the labour cost index (LCI) rose to 3.0 percent in the March 2022 quarter, up from 2.6 percent in the December 2021 quarter, Stats NZ said today.

“Wage inflation is at its highest level since the March 2009 quarter,” business prices delivery manager Bryan Downes said.

Wage inflation is the percentage change for all salary and wage rates (including overtime) in the adjusted LCI, which measures changes in the cost of labour incurred by businesses, adjusting for changes in the quality, quantity, and type of work.

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• Annual wage inflation rises to 3.0 percent
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