Consumer inflation expectations surge

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The weekly ANZ-Roy Morgan consumer confidence survey was released yesterday afternoon, which fell another 1.8% to a neutral result of 100.0:

Consumer confidence

Four out of the five sub-indices registered losses last week with the consumer sentiment index now down 14.2 points from its 23 May peak:

Consumer confidence index
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According to David Plank, head of Australian economics at ANZ:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.