Key facts
- UK grocery price inflation fell to 2.1% in the four weeks to August 9.
- The current UK grocery inflation rate is the lowest since October 2024.
- Australian consumer sentiment rose for the second consecutive month in August.
- The Westpac-Melbourne Institute index in Australia increased by 6.0% from July.
- Australian consumer sentiment is down nearly 10% year-over-year.
- Expectations of lower interest rates are driving improved Australian consumer sentiment.
Grocery price inflation in the United Kingdom has eased to 2.1% for the four weeks concluding August 9, marking its lowest point since October 2024. This development, reported by Worldpanel by Numerator, provides additional relief to households grappling with elevated living expenses.
In Australia, consumer sentiment has seen a positive trend, increasing for the second consecutive month in August. The Westpac-Melbourne Institute index recorded a 6.0% rise from July. Despite this improvement, the overall sentiment remains nearly 10% lower when compared to the same period last year. This uptick is attributed to growing expectations of potential interest rate reductions.