26.06.202522:09:22UTC+00New Zealand Consumer Morale Rises to 6-Month High

The ANZ-Roy Morgan Consumer Confidence Index increased by 6 points in June, reaching 98.8, the highest level since December. Although all components showed improvement, many remain below historical averages. The percentage of households indicating it's a favorable time to purchase major household items rose by 3 points to -7, which still reflects weak retail sentiment. Inflation expectations climbed by 0.3 percentage points to 4.9%, the highest since April 2023, likely fueled by ongoing food price inflation at 4.4% year-over-year, alongside worries about rising energy and electricity costs. While these heightened inflation expectations from households may not heavily influence overall inflation trends or wage outcomes, they do underscore persistent cost-of-living pressures. The Future Conditions Index increased by 8 points to 104.8, while the Current Conditions Index went up by 3 points to 89.8, indicating a slight uptick in optimism regarding both present and future economic conditions.