sydneyaustralian consumer confidence nudged higher last week amid recent speculation that the pace of interest rate increases in recent months might slow consumer confidence increased by 04 over the week almost reversing the small decline of the previous week according to anz roy morgan anz head of australian economics david plank said that for the first time since the reserve bank of australia started raising interest rates in may consumers who are paying off a mortgage are more confident than those renting this may indicate that people with mortgages have taken comfort from recent commentary that the rba might scale back the size of rate increases in october mr plank added rba governor philip lowe said last week that as interest rates rise there is a growing case to slow the rate at which the official cash rate is being increased every month the cash rate has been raised by 225 basis points since may the fastest pace of increase since 1994 despite the improvement in confidence household inflation expectations jumped 03 percentage points to 56 its highest since midaugust according to the survey sentiment around current financial conditions fell 48 more than offsetting a 42 gain over the previous three weeks meanwhile future financial conditions climbed 45 the survey showed consumers were more upbeat about buying a major household item with the measure rising 37 its third consecutive weekly gain the weekly anzroy morgan australian consumer confidence rating is based on 1458 interviews conducted online and over the telephone during the week to sunday