WELLINGTON, New Zealand: Wage inflation hit a record high in New Zealand in the three months that ended Sept. 30, according to official data released Tuesday, boosting expectations that the central bank may raise interest rates again next month.
According to Statistics New Zealand's Labor Cost Index, ordinary time salary and wage rates in the private sector rose 0.8 percent in the third quarter from the second quarter and 2.8 percent from the previous year.
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