Original article by David Marin-Guzman
The Australian Financial Review – Page: B5 : 10-May-23

Treasury had forecast 2023-24 inflation of 3.50 per cent in October, but has lowered its prediction to 3.25 per cent in the 9 May budget papers. Wages growth is expected to be at four per cent in 2023-24,compared to Treasury’s forecast of 3.25 per cent growth in October. However, it did not revise its wages growth forecast for 2024 to 2027, expecting pay rises to remain at 3.25 per cent over that period. Meanwhile, Cairns restaurant Wild Thyme operations manager Catherine Pacey said she had decided in December to close the cafe on Sundays and Mondays, because Mondays are quite quiet and wages are quite high on Sundays

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AUSTRALIA. DEPT OF THE TREASURY