In particular, the wage price index 6 / 13  BIS central bankers' speeches  (WPI) has increased by just over 2 per cent over the past year, which is the slowest rate of increase since the series began in the late 1990s (Graph 5).
The Reserve Bank and the ABS have been working together to obtain some additional insight into what is happening here. Together we have looked at the wage increases for all the 18,000 individual jobs that the ABS uses to construct the WPI. The results are interesting.