Consumer confidence up 0.3 points to 80.5, inflation expectations at 5.0% on-year

  • Australian consumer confidence increased by 0.3 points to 80.5
  • Inflation expectations rose 0.1 points to 5.0% on-year
  • Four-week moving average remained stable at 80.7 points
  • Highest reading for inflation expectations in a month, but below November 2022 peak of 6.8% on-year

Australian consumer confidence experienced a slight increase last week, rising by 0.3 points to reach 80.5, according to a survey conducted by the ANZ Bank and pollster Roy Morgan. Weekly inflation expectations also saw an uptick, reaching 5.0% on-year. This comes after data revealed that April’s inflation was higher than anticipated at 3.6% on-year, compared to the expected rate of 3.4%. However, the trend for inflation expectations has been declining and is still below the November 2022 peak of 6.8% on-year, as noted by ANZ economist Madeline Dunk. The weekly ANZ-Roy Morgan Australian consumer confidence rating is based on 1,501 interviews conducted online and over the phone.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the increase in consumer confidence and inflation expectations based on a survey by ANZ Bank and Roy Morgan. It also includes relevant details such as the methodology of the survey and the source’s expert opinion. However, it could be improved by providing more context or background information about the long-term trend of consumer confidence and its implications for the economy.
Noise Level: 3
Noise Justification: The article provides relevant information about Australian consumer confidence and inflation expectations but lacks in-depth analysis or actionable insights.
Public Companies: ANZ Bank (ANZ)
Key People: Madeline Dunk (ANZ economist), James Glynn (Writer)

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Financial Relevance: Yes
Financial Markets Impacted: Australian financial markets
Financial Rating Justification: The article discusses consumer confidence, inflation expectations and their impact on the Australian economy which can affect various sectors of the financial market such as stocks, bonds, and interest rates.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text. The article discusses consumer confidence and inflation expectations in Australia.

Reported publicly: www.wsj.com