SYDNEY: Australian consumer sentiment took a nose dive last week as a shockingly high reading in inflation fuelled concerns about the cost of living and possible rise in interest rates, a survey showed on Tuesday.
The ANZ measure of consumer confidence sank 6.0% last week, the sharpest drop since an Omicron wave swept through the eastern seaboard in January. The slide followed data showing consumer price inflation spiked to a 20-year peak of 5.1% in the first quarter.
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