Consumer confidence experienced a decline last week, dropping by 1.1 points to reach 85.7 points. The four-week moving average also saw a decrease of 0.2 points, settling at 86.4 points.
Inflation expectations for the week increased by 0.3 percentage point to 5.0 percent, with the four-week moving average rising slightly by 0.1 percentage point to 4.8 percent.
In terms of financial conditions, there was a reduction in both current and future outlooks. Current financial conditions over the past year decreased by 0.5 points, while future financial conditions for the next twelve months fell by 4.2 points.
Short-term economic confidence for the upcoming year declined by 2.2 points, and medium-term economic confidence over the next five years dropped by 0.7 points.
Conversely, the subindex measuring whether it is a good time to buy major household items saw an increase of 2.5 points.
"Consumer Confidence fell 1.1 points last week but has remained within the relatively narrow range of 82-88 since mid-August," stated ANZ Economist Sophia Angala.
"The decline was largely broad-based, with households feeling less confident about both the financial and economic outlook," Angala continued, noting that "inflation expectations ticked up 0.3 percentage point to 5.0 per cent last week, a three-month high."
Angala also highlighted that "'Time to buy a major household item' was the only subindex to rise last week, increasing 2.5 points to 81.5 points." She added that this subindex "is now at its strongest since late 2022, likely linked to Black Friday sales events."