The four-week moving average for ‘inflation expectations’ fell 0.2ppt to 3.8%. The weekly reading dipped to 3.1% from 3.8%.
ANZ Head of Australian Economics, David Plank, commented:
"The flattening in the pandemic curve and the recovery in equity markets may be helping to lift consumer confidence. Better-than-expected news on the labour market may also have boosted sentiment. Confidence is now close to 30% above the historic low reached on the last weekend of March. While the recovery has been solid, sentiment is still well below average. Inflation expectations have dropped, with the weekly reading of 3.1% the lowest since the survey began measuring inflation expectations in 2010. The dramatic drop in petrol prices over recent weeks may be a major contributor to the fall."

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Consumer Confidence – Monthly Detailed Report in Australia.
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Consumer Banking Satisfaction - Monthly Report in Australia.
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