Consumer confidence rose 1.3 points last week to 86.7 points. The four-week moving average ticked down 0.1 points to 86.3 points.
'Weekly inflation expectations' declined 0.2 percentage point to 4.7 per cent, while the four-week moving average steadied at 4.8 per cent.
'Current financial conditions' (over the last year) ticked up 0.1 points, while 'future financial conditions' (next 12 months) increased 2.6 points.
'Short-term economic confidence' (next 12 months) fell 1.1 points, and 'medium-term economic confidence' (next five years) lifted 0.4 points.
The 'time to buy a major household item' subindex jumped 4.4 points.
"ANZ-Roy Morgan Australian Consumer Confidence rose 1.3 points last week to 86.7 points, reversing last week's decline. The 'time to buy a major household item' subindex reached its highest level since late April 2022, prior to the beginning of the Reserve Bank of Australia (RBA)'s hiking cycle. This is likely supported by ongoing end-of-financial-year sales through June," ANZ Economist, Sophia Angala said.
"Confidence in the economic outlook weakened, despite last week's labour market data suggesting the labour market appears to be tracking better than what the RBA had expected in its May Statement on Monetary Policy,"
"We expect labour market resilience alongside robust household income growth to support a pick-up in ANZ-Roy Morgan Australian Consumer Confidence through this year, but ongoing trade and geopolitical uncertainty may soften its momentum."
