In the fourth quarter, Australia's Wage Price Index increased by 0.9 percent, aligning with analysts' consensus expectations. This growth, rising from 1.3 percent in the previous quarter, highlights a key factor influencing inflation and monetary policy decisions by the Reserve Bank of Australia, particularly as it forecasts further increases in wage growth.
At 11:30am, the S&P/ASX 200 is 0.46 per cent lower at 7,623.40.
The SPI futures are pointing to a fall of 25 points.
Best and worst performers
The best-performing sector is Information Technology, up 2.88 per cent. The worst-performing sector is Consumer Staples, down 4.29 per cent.
The best-performing large cap is WiseTech Global (ASX:WTC), trading 11.52 per cent higher at $89.05. It is followed by shares in Cochlear (ASX:COH) and The Lottery Corporation (ASX:TLC).
The worst-performing large cap is Woolworths Group (ASX:WOW), trading 7.86 per cent lower at $33.05. It is followed by shares in Viva Energy Group (ASX:VEA) and Fortescue (ASX:FMG).
Commodities and the dollar
Gold is trading at US$2034.40 an ounce.
Iron ore is 5.3 per cent lower at US$121.95 a tonne.
Iron ore futures are pointing to a 3.6 per cent fall.
One Australian dollar is buying 65.53 US cents.
