Australian consumer confidence edged higher last week, according to the latest ANZ-Roy Morgan Australian Consumer Confidence report released on Tuesday, though the index remains well below its long-run average.
The weekly index rose 2.3 points to 66.4 points for the week of May 11-17, with the four-week moving average lifting 0.5 points to the same level. Despite the improvement across all subindices, the headline figure remains well below the monthly average of 108.8 points recorded since 1990.
ANZ economist Sophia Angala said the gains coincided with two significant economic releases.
“This occurred alongside the release of Australia’s Budget 2026-27 and Q1 wages data,” she said.
Angala noted the index nevertheless remains deeply depressed.
“Confidence remains around historical lows since the series began in 1973,” she said.
The report showed gains across all categories measured. Current financial conditions – reflecting how Australians assess their finances compared with a year ago – rose 2.1 points, while the outlook for financial conditions over the next 12 months gained 1.0 point. Short-term economic confidence for the coming year climbed 2.2 points, and medium-term economic confidence over the next five years rose 2.4 points. The subindex measuring whether it is a good time to purchase a major household item recorded the largest gain, rising 3.8 points.
Weekly inflation expectations eased 0.4 percentage points to 6.0%, their lowest reading since early March. The four-week moving average for inflation expectations fell 0.3 percentage points to 6.4%.
Despite the decline, inflation expectations remain elevated. Angala said the persistence of price pressures reflects recent fuel costs and the risk of broader flow-on effects.
“The still-elevated level of inflation expectations likely reflects higher fuel prices over recent months and some risk of second-round effects (where higher input costs, such as fuel or fertiliser, flow through to goods and services broadly),” she said.
The weekly ANZ-Roy Morgan Australian Consumer Confidence survey is based on 1,025 interviews conducted online and by telephone during the week to Sunday.
Historical data in the report showed confidence declined sharply from early 2026, falling from 80.5 points in February to a low of 58.8 points in late March before gradually recovering through April and into May.
