Consumer confidence has decreased, with last week's figures showing a fall of 2.1 points, bringing the index to 87.7. This decline is reflected in the four-week moving average, which has dropped by 0.2 points to 87.3.
Weekly inflation expectations saw a small increase of 0.3 percentage points, reaching 4.5 percent, while the four-week moving average remained constant at 4.6 percent.
The index for current financial conditions over the last year fell by 2.4 points. Future financial conditions, which look at the next 12 months, decreased more significantly by 5.9 points. Short-term economic confidence, forecasting the next year, dropped by 0.9 points, and medium-term economic confidence, focused on the next five years, decreased by 1.3 points.
There was also a slight decrease in the 'time to buy a major household item' subindex, which fell by 0.2 points.
ANZ Economist, Sophia Angala noted, "ANZ-Roy Morgan Australian Consumer Confidence fell 2.1 points last week to 87.7 points, but the series is still up 2.6 points in the past fortnight, since the Reserve Bank Australia’s 25 basis points rate cut."
Angala further stated, "All subindices recorded a decline in the week. Last week’s data showing weak investment intentions and lower-than-expected non-residential construction work done may have dampened confidence regarding economic conditions."
She added, "Weekly inflation expectations rose to 4.5 percent last week despite the January monthly CPI indicator steadying at 2.5 percent year on year. On a four-week moving average basis, the series has gradually lowered from 5.1 percent to 4.6 percent, its lowest level so far this year."