Australian consumer confidence dropped last week to the lowest level since October 2024, as households and businesses reeled from the impact of ex-Tropical Cyclone Alfred and global trade war uncertainties, according to a report by ANZ Research released Tuesday.

The ANZ-Roy Morgan Consumer Confidence fell to 83.8 points (pts) in the week of March 10 to 16 from 86.9 pts in the prior week.

Consumers' assessment of their financial situation compared with the past year dropped, with the relevant sub-index down to 74.2 pts from 77.1 pts. But the short-term outlook appeared weaker, with the year-ahead measure down to 98.4 pts from 102.9 pts.

The five-year-ahead economic measure dropped to 89.1 pts from 90.8 pts.

The "time to buy a major household item" sub-index fell to 81 pts from 82.8 pts.

Meanwhile, the two-year ahead inflation expectations indicator rose to 4.8% from 4.7%.