Australia – Westpac Consumer Confidence Index for May -5.6% m/m (vs. prior -0.9%)

The weekly consumer sentiment data (latest here Australian weekly consumer confidence survey 90.5 (prior 90.7)) is languishing well in pessimistic territory.

This monthly indicator, the same. Drops sharply to 90.4, its lowest since August of 2020.

• prior 95.7
• today's is its 6th consecutive monthly drop
• WPAC citing high inflation and the RBA rate rise for the fall lower in May
• WPAC also say retailers will be concerned with the 'time to buy a major household item' falling another 5.7% on the month to be down 24% y/y. The incumbent government is going to be sweating this survey result too - elction is coming up on May 21.

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Eyes are on inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term data ahead:

• Wednesday 11 May 2022 - Before the eagerly awaited US CPI we'll get China CPI data
• US inflation data is the focus for Wednesday 11 May 2022