Consumer confidence plunges to another three-year low

Interest rate rises and cost of living pressures are taking their toll on consumer confidence. Photo: AAP

Consumer confidence has sunk to another post-pandemic low following the 12th interest rate rise in 13 months.

Morale has been low for several months in response to cost of living pressures and interest rate hikes and has now fallen to its lowest level since the COVID-19 lockdowns sent confidence levels plummeting in April 2020.