Consumer confidence: persistently weak

Consumer confidence decreased by 0.4pts. Among the mainland states, confidence rose in Victoria, Queensland and WA, but fell in NSW and SA.

'Weekly inflation expectations' rose 0.2ppt to 5.5%, while its four-week moving average was 5.3%.

'Current financial conditions' fell 1.6pts after a 4.3pt fall the week before. 'Future financial conditions' plunged 5.3pts to its lowest since late March 2020.

'Current economic conditions' softened 0.6pts, while 'future economic conditions' gained 2pts.

'Time to buy a major household item' was up 4pts.