Consumer confidence plunges amid inflation fears

Consumer confidence in Australia dropped 12.5% in April 2025, marking the sharpest monthly decline since COVID-19 and reaching its lowest level in two years. The decline is attributed to the US-Iran conflict driving up petrol prices and inflation concerns, compounded by the Reserve Bank of Australia's March interest rate hike. Approximately 80% of Australians expect mortgage rates to rise within the next year, with 40% anticipating multiple rate increases.See omnystudio.com/listener for privacy information.