Aussie’s pay packets are growing at their fastest rate in 8 years as workers change jobs for a better deal. But… real wages are going backwards thanks to surging inflation, according to the latest data from the Bureau of Statistics. The Wage Price Index (WPI) – the official measure of changes to pay – jumped by 0.7% in the April-June quarter and 2.6% over the past year. That was slightly below economists’ expectations but it’s an increase on the previous quarter. With inflation at 6.1%, it means worker’s wages have dropped 3.5% in real terms over the past year to 2011 levels despite record-low unemployment. That trend is set to continue with inflation forecast to peak at 7.75% by the year’s end. The Reserve Bank expects it won’t be until 2024 that real wage growth will kick in, and Treasurer Jim Chalmers says the issue will be front and centre at the Albanese Government’s jobs summit next month.