Consumer confidence dropped 4.1 per cent last week, to its lowest level since mid-August 2020. Among the major states, confidence decreased in NSW, Victoria, Queensland and WA, but increased in SA.

• 'Weekly inflation expectations' increased 0.2ppt to 5.7 per cent, while its fourweek moving average also rose 0.2ppt to 5.5 per cent.

• All the five confidence subindices registered losses. 'Current financial conditions' dropped 0.2 per cent, its fourth consecutive weekly decline. 'Future financial conditions' fell 4.3 per cent after a 5.5 per cent decrease the week before.

• 'Current economic conditions' plunged 9.4 per cent after a 3.5 per cent gain over the past three weeks. Future economic conditions were down 2.1 per cent.

• 'Time to buy a major household item' dropped 4.7 per cent, after a 10.1 per cent increase over the previous two weeks.

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ANZ - Australia & New Zealand Banking Group Ltd. published this content on 07 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 June 2022 00:21:06 UTC.