Consumer confidence: inflation expectations at 2024 high

• Consumer confidence declined 0.9pts to 81.9pts. The four-week moving average fell 0.1pts to 82.4pts.

• 'Weekly inflation expectations' rose 0.1ppt to 5.3%. The four-week moving average was also up 0.1ppt to 5.1%.

• Four of the five subindices declined.

• 'Current financial conditions' softened 2.2pts and 'future financial conditions' declined 2.7pts.

• 'Short term economic confidence' (about the economic outlook over the next 12 months) decreased1.3pts. 'Medium term economic confidence' (about the economic outlook over the next five years) fell 1.6pts.

• The 'time to buy a major household item' subindex bucked the trend and rose 2.8pts.