Australia Consumer Survey: June Consumer Survey: Squeezed households, softer spending intentions

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Australia Consumer Survey: June Consumer Survey: Squeezed households, softer spending intentions

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Australia Consumer Survey

June Consumer Survey: Squeezed

households, softer spending intentions

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This is the 5th installment of our proprietary BofA Australia Consumer Survey which 29 June 2026

tracks spending intentions, income and savings expectations, and employment intentions Cross Asset

using an online poll of Australian consumers. The survey results in this report were Australia

collected from 1010 consumers in Australia aged 18+ during June 17-22.

Persistent price pressures, but spillovers contained

Consumers report rising food and dining-out prices, consistent with the May CPI, which

is weighing on discretionary spending intentions. While 69% of respondents report

observing price increases due to higher fuel prices, there is limited evidence that this is

translating into a broad-based shift in pricing behaviour. The sectors experiencing the Nick Stenner, CFA

most salient price pressures remain largely unchanged from pre-war survey patterns. Australia & NZ Economist Merrill Lynch (Australia)

Savings capacity remains constrained, as a majority (57%) are uncomfortable with their +61 2 9226 5031

savings levels, but a declining share of respondents are willing or able to increase nick.stenner@bofa.com

contributions, consistent with rising cost pressures and a declining household savings JohnnyAustraliaLiu,& NZCFAEconomist

ratio. This backdrop is weighing on household finances more broadly, with deteriorating Merrill Lynch (Australia)

+61 2 9226 5054

spending power, softer consumption intentions, and rising income concerns, as johnny.liu2@bofa.com

suggested by a growing share of respondents willing to switch jobs for higher pay. Equity Research