The interest rates for savings account are set so that they are always below current rate of inflation. (moneycone.com)
As they won wage increases higher than the current rate of inflation they would, for a short time, gain real wage increases. (businessinsider.com)
Such an increase would be near half the 3.3 % increase awarded in the 2017/18 financial year and less than the current rate of inflation. (businessinsider.com.au)