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ANZ: Petrol Prices Haven’t Led To Fall In Other Spending

AUSTRALIA

ANZ note that “ANZ-Roy Morgan Consumer Confidence and Google search data show households are worried about petrol prices. But ANZ-observed spending has been resilient and interest in travel hasn’t waned over cost of living concerns. Resilient spending suggests households are using saving buffers to cover the increase in cost of living, rather than reining in spending, which is a good sign for consumption as inflation intensifies.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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