Consumer confidence declined 2.0 points last week to 83.5 points. The four-week moving average remained at 85.1 points.
'Weekly inflation expectations' were unchanged at 5.6 per cent, while the four-week moving average increased 0.1 percentage point to 5.5 per cent.
'Current financial conditions' (over the last year) fell 0.4 points, while 'future financial conditions' (next 12 months) dropped 3.5 points.
'Short-term economic confidence' (next 12 months) ticked down 0.2 points, and 'medium-term economic confidence' (next five years) was down 0.6 points.
The 'time to buy a major household item' subindex fell 5.6 points.
ANZ Economist, Sophia Angala said: "ANZ-Roy Morgan Australian Consumer Confidence fell 2.0 points, with declines across all subindices. The 'time to buy a major household item' subindex recorded the largest fall, likely driven by the conclusion of Black Friday sales last week, while household confidence in their future finances fell to its lowest level since November 2023.
"The October monthly CPI signalled inflationary pressures are persisting, and this likely supported the recent rise in inflation expectations. On a four-week moving average basis, inflation expectations are now at their highest level since late 2023. Given recent inflation pressures, ANZ Research now expects the RBA Board to keep the cash rate at its current level of 3.60 per cent for an extended period."
