The Australian Bureau of Statistics released its wage price data on Wednesday. Wages in Australia rose at a seasonally adjusted rate of 0.4% in the first quarter, missing forecasts of a 0.5% gain, after a 0.5% increase in the previous quarter.

Public wages rose 0.5% in the first quarter, while private wages increased 0.4%.

On a yearly basis, wages climbed 2.1% in the first quarter, missing expectations for a 2.2% increase, after a 2.2% gain in the fourth quarter. It was the weakest rise since 1998.

On a yearly basis, private wages were up 1.9% in the first quarter, while public wages jumped 2.5%.