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ABC News
ABC News
Business
business reporter Emilia Terzon with wires

Consumer confidence plunges to lockdown levels while Australians prepare for the polls

Inflation United States
Consumer confidence is down as rates rise for the first time in 11 years and the cost of living rises. (ABC News: Keane Bourke)

Australians' confidence in the economy and their own financial situation has plunged to lockdown levels, just weeks before an election that is being fought on the rising cost of living.

Here in Australia and globally,  markets are considering rate hikes, inflation, war and supply chain woes.

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