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flag Australian consumer confidence hit a 2020 low in March 2026 due to inflation, rising petrol prices, and bleak economic outlook.

flag Australian consumer confidence plunged to 68.5 in March 2026, its lowest level since March 2020, driven by worsening views on personal finances and the economy amid rising inflation, particularly from higher petrol prices linked to Middle East tensions. flag A net 26% said their families are worse off, while 43% expect personal finances to decline in the next year—the highest since 1989. flag Only 5% anticipate good economic times in the next year, and just 8% over five years, both record lows. flag Business confidence also fell sharply to 88.6, its weakest in over five years, with most states and sectors showing declining optimism. flag The Reserve Bank of Australia is expected to raise its cash rate to 4.1% to combat inflation, despite weakening household sentiment.

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