Consumer confidence in Australia has experienced a decline, dropping 1.3 points last week to reach 85.4 points. The four-week moving average also saw a decrease of 0.9 points, bringing it to 86.4 points.
Inflation expectations for the week rose by 0.2 percentage point to 4.9 percent, with the four-week moving average increasing slightly by 0.1 percentage point to 4.8 percent.
The index measuring 'current financial conditions' over the past year fell by 1.0 points, while 'future financial conditions' projected for the next twelve months decreased by 1.6 points.
In terms of economic confidence, short-term outlooks for the next twelve months remained stable, but medium-term economic confidence looking ahead five years dropped by 2.1 points.
Additionally, the subindex assessing whether it is a good time to purchase major household items declined by 2.0 points.
"ANZ-Roy Morgan Australian Consumer Confidence fell 1.3 points last week to 85.4 points, falling below its 2025 year-to-date average," stated ANZ Economist Sophia Angala.
Angala attributed some of this decline to "escalating geopolitical uncertainty," which may have influenced both consumer sentiment and inflation expectations due to concerns about rising oil prices.
She further noted that "recent domestic data has been sluggish," highlighting evidence of a weak business sector following disappointing Gross Domestic Product figures from the first quarter.