The four-week moving average for ‘inflation expectations’ remained unchanged at 3.3%. The weekly reading decreased to 3.1% from 3.2%.
ANZ Head of Australian Economics, David Plank, commented:
"On the back of strong gains in the ‘economic conditions’ subindices, confidence strengthened further last week. Nine weekly gains in a row is unprecedented. To be fair, though, so was the depth of the starting point. More good news about control of the pandemic and the consequent relaxation of restrictions is key to the lift in sentiment. Expectations of residential housing stimulus and lower petrol prices may also be playing a role. Though lower petrol prices are also contributing to the record low in inflation expectations.."
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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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