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Australia’s Westpac–Melbourne Institute Consumer Sentiment Index fell 2.7% month-on-month to 78.2 in November 2026, its lowest level since November 2022. The decline extended a 4.7% drop in the prior month, marking a third straight monthly fall, amid persistent cost-of-living pressures and higher borrowing costs, which continued to weigh on mortgage affordability. Economic sentiment weakened, with the one-year outlook dropping 10.2% to 70.3 and the five-year outlook easing 1.0% to 84.6. Views on household finances were mixed: assessments of finances over the past year rose 3.0% to 68.8, while expectations for the next 12 months slipped 1.0% to 87.6. The index measuring whether it was a good time to buy major household items fell 3.7% to 80.0, while unemployment expectations rose 1.6% to 144.4. Westpac economist Matthew Hassan said he does not expect a rate hike in February, following five increases this year, though persistently high inflation will continue to test the RBA’s resolve.

Australia’s Westpac–Melbourne Institute Consumer Sentiment Index fell 4.7% mom to a six-month low of 80.4 in October 2026, slowing from a 5.2% decline in the prior month while marking a second straight month of decline. Confidence remained under pressure from higher fuel and interest rates, as views on household finances weakened, with assessments of finances over the past year falling 8.0% to 66.9, while expectations for the next 12 months declined 6.4% to 88.4. Economic sentiment was also subdued, with the one-year outlook slipping 1.6% to 78.3 and the five-year outlook edging down 0.4% to 85.5. The index measuring whether it was a good time to buy major household items fell 7.1% to 83.0, while unemployment expectations rose 1.9% to 142.1. Westpac economist Matthew Hassan said previously flagged upside risks to inflation were materialising, while the RBA was also wary of demand pressures from the AI and data-centre boom. He expects another rate hike at the RBA’s November meeting.

Australia’s Westpac–Melbourne Institute Consumer Sentiment Index jumped 6.0% mom to 88.9 in August 2026, accelerating from a 4.1% rise in the prior month and marking its fastest gain since November 2025. However, the index remained almost 10% below its level a year earlier. Sentiment strengthened as mortgage holders became less concerned about further interest rate increases. Views of household finances brightened, with assessments of the past year surging 12.6% to 80.0, while 12-month expectations rose 1.8% to 98.2. Economic sentiment also improved, with the one-year outlook up 5.8% to 82.8 and the five-year measure rising 3.2% to 89.8. The gauge on whether it was a good time to buy major household items jumped 8.1% to 93.8, while unemployment expectations increased 4.4% to 135.7. Westpac economist Matthew Hassan said the Reserve Bank has scope to hold the cash rate after three hikes this year while assessing the impact of tighter policy and whether underlying inflation has peaked.

Australia’s Westpac–Melbourne Institute Consumer Sentiment Index climbed 4.1% to 83.9 in July 2026, reversing June’s 2.9% fall as worries over energy costs, rising rates, and labor market weakness eased. Yet confidence remains historically fragile, still lodged in the bottom decile of the survey’s 50-year record and vulnerable to global shocks, particularly Middle East tensions. Households showed brighter views of their finances, with assessments of the past year up 5.6% to 71.1 and 12-month expectations surging 13.4% to 96.5. Economic sentiment improved, with the one-year outlook up 0.6% to 78.3 and the five-year measure rising 0.7% to 87.1. The gauge on whether it is a good time to buy major household items edged up 0.5% to 86.8, and unemployment expectations fell 7.1% to 129.9. Westpac economist Matthew Hassan cautioned that inflation remains the Reserve Bank’s central concern, with the June-quarter CPI likely decisive ahead of the August meeting, where he expects another 25bp hike.

Australia’s Westpac–Melbourne Institute Consumer Sentiment Index dropped 2.6% mom in February 2026 to a ten-month low of 90.5, extending January’s 1.7% fall and marking the third straight monthly decline. The latest result highlighted inflation concerns and the impact of the central bank’s 25bp rate hike earlier this month, the first in over two years. Household finances weakened further, with assessments down 4.7% to 78.8 compared with a year earlier, and expectations for the next 12 months slipping 0.1% to 97.7. Meanwhile, views on economic conditions over the next year edged up 0.1% to 88.5, but the five-year outlook fell 2.5% to 94.1. The “time to buy a major household item” index shrank 5.6% to 93.5. Unemployment expectations added 0.3% to 129.8, in line with historical averages. Westpac’s Mathew Hassan said that while another RBA rate hike cannot be ruled out, the board is likely to wait for more data at the March 16–17 meeting, with the next 25bp move potentially coming in May.

Australia’s Westpac–Melbourne Institute Consumer Sentiment Index slipped 1.7% mom in January 2026 to a three-month low of 92.9, extending December’s sharp 9.0% plunge as shifting interest rate expectations weighed on confidence. Sentiment showed mixed signals: the one-year economic outlook fell 6.5% to 88.4, while the five-year view edged up 0.9% to 96.5. Household finances also diverged, with assessments rising 2.3% to 82.7 compared to a year ago, but views for the next 12 months fell 4.5% to 97.8. The “time to buy a major household item” index edged up 0.2% to 99.1. Meanwhile, views on unemployment worsened, with the index climbing 2.1% to 129.4, slightly above its long-run average, signaling rising concern over job prospects. Westpac’s head of Australian macro-forecasting, Mathew Hassan, said consumers are increasingly wary about 2026, noting that recent strong inflation and resilient domestic spending have heightened fears that cost pressures are not yet under control.

Australia’s Westpac–Melbourne Institute Consumer Sentiment Index plunged 9.0% mom to 94.5 in December 2025, slipping back below the 100 mark after briefly returning to optimism in November for the first time since February 2022. The decline followed a 12.8% surge in the prior month, due to growing worries about inflation. Economic sentiment weakened, as the one-year outlook slid 9.7% to 94.6 and the five-year view fell 11.7% to 95.7. Household finances were also a drag, with views on conditions compared with a year ago dropping 5.0% to 80.9, while expectations for the next 12 months eased 6.1% to 102.4. The “time to buy a major household item” index declined 11.4% to 98.9. Still, views on unemployment improved, down 9.1% to 126.8. Westpac’s Mathew Hassan said renewed anxiety over the interest-rate path was feeding broader concerns about the economic outlook. He cautioned that if inflation takes longer to normalise, the cash rate could stay on hold for longer than currently expected.

Australia’s Westpac-Melbourne Institute Consumer Sentiment Index surged 12.8% in November 2025 to 103.8, topping the 100 mark for the first time since February 2022. Excluding pandemic disruptions, it was the most positive reading in seven years, supported by signs of economic recovery and easing external risks. The latest result was a reversal from a 3.5% drop in the previous month. Views on family finances strengthened, with current conditions up 3.7% to 85.2 and expectations for the next 12 months jumping 12.3% to 109.1. Outlook for the economy also improved, with the 12-month view surging 16.6% to 104.8 and the five-year outlook up 15.3% to 108.4. The “time to buy a major household item” index rose 14.9% to a four-year high of 111.6. However, unemployment expectations increased 9.3% to 139.5, remaining above the long-term average. Mathew Hassan of Westpac said it would take more than one quarter of good news to ease the RBA’s concerns and open the door for policy easing.

Australia’s Westpac-Melbourne Institute Consumer Sentiment Index fell 3.5% mom to 92.1 in October 2025, steeper than a 3.1% decline in the previous month. It marked the fastest drop since April, erasing gains made between May and August. Views on family finances weakened, with the conditions from a year ago falling 4.8% to 82.1, while expectations for the next 12 months tumbled 9.9% to 97.1, the lowest level in over a year. Assessments of the broader economy were mixed: the 12-month outlook slipped 2.5% to a one-year low of 89.9, but the five-year outlook improved 1.4% to 94.0. The “time to buy a major household item” index slipped 1.1% to 97.2, while unemployment expectations were 2.9% lower to 127.6, below the long-run average of 129. Mathew Hassan, Head of Australian Macro-Forecasting, noted that households appear to have been unsettled by recent inflation updates. He added that while a cash rate cut in November is “far from assured,” it is also “not off the table.”

Australia’s Westpac-Melbourne Institute Consumer Sentiment Index rose 0.6% month-over-month to a four-month peak of 93.1 in July 2025, slightly faster than a 0.5% gain in the prior month. While the mood improved a bit, the latest result highlighted clear disappointment following the central bank’s surprise move to leave rates on hold at its July meeting. Among the sub-indexes, 'family finances compared to a year ago' surged 5.0% to 79.2, and expectations for family finances over the next 12 months rose 2.6% to 101.4. Sentiment toward economic conditions over the next 12 months went up 1.8% to 94.1, but the five-year outlook fell 2.8% to 93.4. Also, the 'time to buy a major household item' index dipped 2.6% to 97.6. Unemployment expectations increased 1.0% to 128.7 but remained slightly below the long-run average of 129. Mathew Hassan, Head of Australian Macro-Forecasting, noted that the consumer mood was stuck at ‘cautiously pessimistic’ levels overall.

Australia’s Westpac-Melbourne Institute Consumer Sentiment Index rose 0.5% month-over-month to 92.6 in June 2025, a sharp slowdown from the 2.2% gain in May, amid lingering uncertainty over global trade. Still, it marked the fourth increase this year, supported by the Reserve Bank’s May rate cut and signs of easing inflation. Among the sub-indexes, 'family finances compared to a year ago' increased 0.5% to 75.4, while expectations for family finances over the next 12 months fell 1.9% to 98.8. Sentiment toward economic conditions over the next 12 months declined 0.7% to 92.4, and the five-year outlook dropped 2.4% to 96.2. Meanwhile, the 'time to buy a major household item' index rose strongly by 7.5% to 100.2. Unemployment expectations climbed 5.0% to 127.4 but remained slightly below the long-run average of 129. Mathew Hassan, Head of Australian Macro-Forecasting, noted that the overall mood remains broadly unchanged, with consumers stuck in a holding pattern of “cautious pessimism.”

Australia’s Westpac-Melbourne Institute Consumer Sentiment Index rose by 2.2% mom to 92.1 in May 2025, rebounding from a 6.0% fall in April and marking the third increase this year amid a recovery in financial markets and an outcome of the Federal election. The ‘family finances vs a year ago’ sub-index jumped 7.0% to 75.1, even as expectations for family finances over the next 12 months fell by 0.8% to 100.7. Sentiment toward economic conditions for the year ahead increased 2.8% to 93.0, and the outlook for the next five years edged up 0.2% to 98.6. The ‘time to buy a major household item’ index also improved, up 3.5% to 93.2. Unemployment expectations fell 2.1% to 121.3, remaining below the long-run average of 129. Mathew Hassan, Head of Australian Macro-Forecasting, noted that all measures of inflation are now back within the central bank’s 2–3% target, but added that current policy settings continue to weigh on consumers.

Australia's Westpac-Melbourne Institute Consumer Sentiment Index fell by 6.0% mom to a six-month low of 90.1 in April 2025, reversing a 0.4% increase in the prior month and marking the first drop since January. The ‘family finances vs a year ago’ tumbled 8.5% to 70.2, as did family finances for the next 12 months (-6.2%) to 101.6. Moreover, consumers' views on economic conditions for the next 12 months plunged 5.7% to 90.5, and their assessment for the next 5 years slipped 3.0% to 98.4. Meanwhile, the ‘time to buy a major item’ dipped 7.3% to 90.0. Unemployment expectations rose 5.1% to 122.9, below its long-run average of 129. The latest result highlighted deepening unease among households about global development, particularly the ‘reciprocal tariffs’ launched by US President Trump. "With a sell-off in global financial markets persisting, there is a clear risk of more significant sentiment declines in the months ahead," said Mathew Hassan, head of Australian Macro-Forecasting.

Australia's Westpac-Melbourne Institute Consumer Sentiment index jumped 6.2% mom to a 2-1/2 year top of 89.8 in October 2024, a sharp turnaround from a 0.5% fall in the previous month following interest rate cuts abroad and more promising signs that inflation is easing locally. Consumers' views on economic conditions for the next 12 months surged 14.3% to 92.8 and their assessment for the next 5 years rose 8.0% to 97.8. Meanwhile, the ‘family finances vs a year ago’ gained 2.8% to 73.8, as did family finances for the next 12 months (2.8%) to 99.7. Simultaneously, the ‘time to buy a major item’ added 3.0% to 85.1. Unemployment expectations fell 6.2% to 129.8, above its long-run average of 129. " The October. consumer sentiment read is the best since the RBA interest rate tightening phase began in 2-1/2 years ago.," said senior economist Matthew Hassan. "... there should be enough comfort around the inflation outlook for the board to start relaxing its ‘vigilant’ stance on policy."