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2026-05-27 17:23:11
[Consumer Confidence Hits Historic Low, Inflation Expectations Rise; Wednesday's CPI Data Key to Breakthrough] ⑴ Australia's consumer confidence index dipped slightly by 0.3 points to 66.1 last week, while the four-week moving average declined by 0.4 points to 66.0. ANZ economist Sophia Angala noted that the index remains near historical lows since records began in 1973. ⑵ In terms of sub-indices, "Current Financial Conditions" (past year) fell by 3.5 points, and "Future Financial Conditions" (next 12 months) fell by 2.1 points. "Short-Term Economic Confidence" (next 12 months) declined by 0.8 points, while "Medium-Term Economic Confidence" (next five years) rose by 1.2 points. The sub-index for "Timing to Purchase Major Household Items" rebounded by 4.0 points. ⑶ Weekly inflation expectations rose slightly by 0.1 percentage point to 6.0%, while the four-week moving average declined by 0.1 percentage point to 6.3%. Angala stated that confidence in financial conditions weakened, but confidence in economic conditions improved slightly, possibly driven by news regarding the prospects of a US-Iran agreement. The April CPI data to be released this week will be key to revealing the speed and extent of the transmission of rising input costs such as fuel, fertilizer, or plastics to the overall inflation basket. Overall inflation is expected to rise by 0.5% month-on-month in April.
