Consumer confidence broadly unchanged

Consumer confidence fell 0.3 points last week to 66.1 points. The four-week moving average eased 0.4 points to 66.0 points.

‘Weekly inflation expectations’ ticked up 0.1 percentage points to 6.0 per cent, while the four-week moving average fell 0.1 percentage points to 6.3 per cent.

‘Current financial conditions’ (over the last year) was down 3.5 points, while ‘future financial conditions’ (next 12 months) decreased 2.1 points.

‘Short-term economic confidence’ (next 12 months) declined 0.8 points, and ‘medium-term economic confidence’ (next five years) rose 1.2 points.

The ‘time to buy a major household item’ subindex lifted 4.0 points.

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"ANZ-Roy Morgan Australian Consumer Confidence was broadly unchanged last week, falling just 0.3 points to 66.1 points. Confidence remains around historical lows since the series began in 1973, " ANZ Economist Sophia Angala said.

"While confidence in financial conditions eased, confidence in economic conditions improved slightly, which may have been driven by news of the prospect of a US-Iran deal.

"Weekly inflation expectations ticked up ahead of April CPI data this week, which will be key to revealing the speed and extent of which higher input costs (such as fuel, fertiliser or plastics) are flowing through to the broader inflation basket. We expect headline inflation to have risen 0.5 per cent month on month in April."

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