The Australian Financial Review --- Page: 3 : 12 June 2008 Original article by Adrian Rollins
LexisNexis Summary
Australian consumer confidence has plunged to its lowest level since 1992 due to the rise in fuel prices and inflation fears. Research released on 11 June 2008 showed a 30% reduction in consumer sentiment in the last 12 months. Analysts were surprised, but the Reserve Bank of Australia strategy has succeeded in also dampening consumer enthusiasm. The inflation rate has become a particular concern for households. Tax cuts and other government beneficence to begin on 1 July may offset rising household costs but also increase inflation.
