Australian workers claw back hit to living standards as wages outpace inflation

The 1% climb in real pay was the fastest in five years, and twice the five-year average leading into the pandemic

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Australian workers are clawing back the hit to their living standards from the high cost of living, as wages handily outpaced inflation in the year to March.

Hourly rates of pay climbed by 3.4% through the 12-month period, versus a 2.4% rise in prices, according to the Australian Bureau of Statistics.