The ANZ-Roy Morgan Consumer Confidence increased to 86.5 in May 2026 from 80.3 in April, which was the lowest level since May 2023. The index has risen 6 points over the previous month but is still down 21 points from its January peak. The share of households seeing it as a good time to buy a major household item, a key retail indicator, gained 5 points to -20. Two-year inflation expectations eased to 5.6% from 6.6%, while house price expectations dropped 0.7 percentage points to 2.6%.