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CEO announces 3% yearly pay rise and people are stoked (AUS)?

So our CEO sends a company wide email announcing a 3% pay rise for all staff, people are ecstatic, talking excitedly amongst themselves. Am I going crazy? This isn't good news as I'm pretty sure Australia's CPI is 5.1%. Doesn't that mean we're all getting a pay cut?


So our CEO sends a company wide email announcing a 3% pay rise for all staff, people are ecstatic, talking excitedly amongst themselves. Am I going crazy? This isn't good news as I'm pretty sure Australia's CPI is 5.1%. Doesn't that mean we're all getting a pay cut?

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