ANZ/Roy Morgan Australian Consumer confidence declined 1.8% last week to 100.0

  • prior 101.8
  • well below the 2021 weekly average of 108.9

Sentiment down for:

  • Sydney -5.3%,
  • Melbourne -0.8%
  • Brisbane -2.9%

Increased in:

  • Adelaide +5.0%
  • Perth +2.3%

ANZ comment:

  • The most notable thing in this week's release is the jump in inflation expectations to its highest level in almost three years. The weekly reading can be volatile so we need to be a bit cautious about overplaying the move, but if sustained it will cement the sharpest jump in inflation expectations since we moved to collecting the data on a weekly basis.