Labor leader Anthony Albanese has taken the unusual step of endorsing an increase to the minimum wage of at least 5.1 per cent, to keep up with the rate of inflation.

Mr Albanese said if Labor wins the federal election, it will make a submission to the Fair Work Commission urging the independent umpire to ensure wages "at least keep up with the cost of living".

With inflation — the key cost-of-living measure — running at 5.1 per cent, Mr Albanese was asked if he would back an equal increase in wages.

"Absolutely," he said. 

The Australian Council of Trade Unions (ACTU) is pushing for a 5.5 per cent increase, which would see the minimum wage rise from $772.60 to $815.09 per week, or $42,384.84 a year.

Earlier, Mr Albanese would not endorse the ACTU's wage claim, but when pressed on his position at a later press conference, backed an increase in line with inflation.

Wages and cost-of-living pressures have emerged as the dominant themes during this election campaign, with sky-rocketing inflation forcing the Reserve Bank of Australia (RBA) to increase interest rates for the first time in 11 years.

While wages have remained stagnant under the Coalition, Finance Minister Simon Birmingham said it was almost unprecedented for a political leader to call for a specific wage increase.

"He's put a figure out there without a shred of analysis or information to back up his position."

Senator Birmingham labelled the move a "thought bubble" and used Mr Albanese's intervention to again question his economic credentials.

The RBA expects inflation to peak at 6 per cent this year, twice the forecast wages growth of three per cent.

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