Subject: ANZ-Roy Morgan Consumer Confidence drops 3.5pts to 80.5 after inflation spikes to 3.8% and spurs talk of interest rate rises

⚡️ Highlights:

1. ANZ-Roy Morgan Consumer Confidence dropped 3.5pts to 80.5 last week after the ABS annual Inflation estimate increased to 3.8%, sparking talk of interest rate increases from the Reserve Bank.

2. Consumer Confidence is now 8pts lower than a year ago, with decreases in New South Wales, Victoria, and Queensland, but increases in Western Australia and South Australia.

3. Less than a fifth of Australians say their families are 'better off' financially than last year, while nearly half say they are 'worse off'.

4. Views on personal finances over the next year hit multi-year lows, with only 24% expecting to be 'better off' financially and 36% expecting to be 'worse off'.

5. Net sentiment regarding the economy over the next year deteriorated, with just 8% expecting 'good times' compared to 33% expecting 'bad times'. Net buying intentions also worsened, with fewer respondents saying it's a 'good time to buy' major household items.

✍️ Roy Morgan | Full Article

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