Confidence falls on wage growth concerns

Household concerns around lacklustre wage growth and the pressure of rising energy cost have brought consumer confidence down in the past week.

Consumer confidence has fallen despite a solid labour report, with households concerned around lacklustre wage growth and seemingly ever-rising energy costs.

The latest ANZ-Roy Morgan Consumer Confidence Index fell 2.2 per cent to 109.2 in the week to August 20, from a high of 118.4 only three weeks earlier.

Four out of the five sub-indices posted declines, with sentiment around personal finances particularly faltering.