The ANZ-Roy Morgan Australian Consumer Confidence Index survey includes a question on inflation expectations:
For this week they dropped to a a 30-month low of 4.7%
- down from 5.1% last week
- while the 4 week moving average is down 0.1 to 5.0%
ANZ analysis:
- Notably, inflation expectations fell to 4.7 per cent, their lowest level since January 2022, before inflation picked up materially in Australia.
- It’s been a bumpy path down for inflation expectations since the peak of 6.8 per cent in November 2022, and that bumpiness has been evident in other measures like the NAB business survey’s price measures. The NAB measures are now consistent with inflation sitting around 2.5 per cent. We’ll be watching to see if inflation expectations continue to moderate over the coming weeks.
As for the headline consumer confidence this week, comes in at 83.0
- prior 83.9
