Consumer confidence declined 6.0 per cent last week, as headline inflation surged to 5.1 per cent y/y in Q1 2022. Among the major states, confidence dropped in NSW, Queensland and SA, while it increased in Victoria and WA.

• 'Weekly inflation expectations' rose 0.2ppt to 5.3 per cent, while its four-week moving average dropped 0.1ppt to 5.4 per cent.

• Four of the five confidence subindices registered losses. 'Current financial conditions' decreased by 5.2 per cent and 'future financial conditions' fell 5.3 per cent.

• 'Current economic conditions' dropped 10.4 per cent, offsetting all its gains from the past four weeks. 'Future economic conditions' bucked the trend by increasing 0.7 per cent.

• 'Time to buy a major household item' declined 10.3 per cent, after an 8.7 per cent rise over the previous four weeks.

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ANZ - Australia & New Zealand Banking Group Ltd. published this content on 03 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2022 03:52:11 UTC.