Consumer confidence in Australia increased by 1.8 points last week, reaching 85.8 points. However, the four-week moving average slightly decreased by 0.1 points to 84.5 points.
Weekly inflation expectations rose by 0.1 percentage point to 4.8 percent, while the four-week moving average dropped from 5.1 percent to 5.0 percent.
The measure of current financial conditions over the past year climbed by 4.3 points, and future financial conditions for the next twelve months increased by 4.6 points.
Short-term economic confidence for the coming year was up by 3.0 points, but medium-term economic confidence for the next five years fell by 1.8 points.
The subindex reflecting whether it is a good time to buy a major household item declined by 1.0 point.
ANZ Economist Sophia Angala commented: "ANZ-Roy Morgan Australian Consumer Confidence was up 2.8 points over the past fortnight. Last week’s rise was driven by improving household confidence in their personal finances, while weakness persists in household confidence in the five-year economic outlook."
She added: "Weekly inflation expectations ticked up ahead of this week’s Q3 Consumer Price Index (CPI) print, which we expect to point to a stalling in annual disinflation. We don’t expect this outcome to be the start of a new trend for inflation and expect annual underlying inflation to reach the midpoint of the Reserve Bank of Australia (RBA)’s 2-3 per cent target band in H2 2026."