Consumer confidence lowest since December 2023

Consumer confidence fell 3.1 points last week to 77.1 points. The four-week moving average eased 0.9 points to 77.8 points.

‘Weekly inflation expectations’ ticked up 0.1 percentage point to 5.3 per cent, while the four-week moving average was unchanged at 5.3 per cent.

‘Current financial conditions’ (over the last year) declined 1.9 points, while ‘future financial conditions’ (next 12 months) decreased 4.0 points..

‘Short-term economic confidence’ (next 12 months) was down 5.0 points, and ‘medium-term economic confidence’ (next five years) dropped 1.9 points..

The ‘time to buy a major household item’ subindex eased 2.9 points.

"ANZ-Roy Morgan Australian Consumer Confidence remains at its lowest level since December 2023, on a four-week moving average basis," ANZ Economist, Sophia Angala said.

"Households are feeling less confident in their personal finances and the economic outlook over the next 12 months. While all subindexes show lower confidence compared to the 2025 average, both these measures have seen sharper drops from their 2025 averages, and the ‘future financial conditions’ subindex is at a multi-decade low.

"‘Weekly inflation expectations’ ticked up last week, which may have been driven by last week’s Consumer Price Index data. With underlying inflation stickier than expected, we now expect the RBA to increase the cash rate by 25 basis points in May."

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