Consumer confidence drops

Consumer confidence fell 1.3 points last week to 85.8 points. The four-week moving average rose 0.1 points to 86.1 points.

‘Weekly inflation expectations’ increased 0.2 percentage point to 5.2 per cent, while the four week moving average ticked up 0.2 percentage point to 5.0 per cent.

‘Current financial conditions’ (over the last year) lifted 0.7 points and ‘future financial conditions’ (next 12 months) declined 3.6 points.

‘Short-term economic confidence’ (next 12 months) was up 0.9 points, while ‘medium-term economic confidence’ (next five years) decreased 2.3 points.

The ‘time to buy a major household item’ subindex dropped 2.6 points.

"The positive impact of the new year appears to be waning, as ANZ-Roy Morgan Australian Consumer Confidence fell 1.3 points last week. However, the series is still up 1.9 points from the end of December," ANZ Economist, Sophia Angala said.

"The ‘time to buy a major household item’ subindex has fallen 7.2 points since the start of January.

"This may be affected by the rise in households’ weekly inflation expectations, which rose to its highest reading since June 2024, despite official data on inflation falling. Coverage of the drift lower in the AUD/USD last week may be impacting households’ inflation expectations."

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Please note the next ANZ-Roy Morgan Australian Consumer Confidence report will be released on Wednesday 29 January.

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