Consumer confidence was practically unchanged rising only 0.2 per cent last week. Confidence dropped in Victoria and NSW as daily COVID cases remained quite elevated in both states.
‘Weekly inflation expectations’ rose 0.2ppt, returning to its recent high of 4.7 per cent. The four-week moving average rose 0.1ppt to 4.6 per cent.
The subindices registered mixed results. ‘Current financial conditions’ dropped 3.0 per cent, while ‘future financial conditions’ gained 1.9 per cent.
‘Current economic conditions’ improved 2.2 per cent and ‘future economic conditions’ were up 1.6 per cent.
‘Time to buy a major household item’ dropped 1.6 per cent.