The ANZ-Roy Morgan weekly consumer confidence index has been released with confidence crashing to its lowest level since April 2020 amid growing concerns surrounding inflation and interest rates:
This took the cumulative fall over the past six weeks to 10.4%.
‘Weekly inflation expectations’ rose 0.2ppt to 6.8% last week, its highest value on record (going back to 2010). Its four-week moving average rose 0.3ppt to 6.4%:
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