---
source: Westpac Banking Corporation, Melbourne Institute
url: https://library.westpaciq.com.au/content/dam/public/westpaciq/secure/economics/documents/aus/2026/04/er20260414BullConsumerSentiment.pdf
document_type: pdf
date_retrieved: 2026-04-14T00:44:00Z
period: April 2026
parent_publication: Westpac-MI Consumer Sentiment Bulletin
indicators_covered: [Consumer Sentiment Index, Consumer Sentiment Change MoM]
---

# Westpac-MI Consumer Sentiment Bulletin, April 2026

Westpac–Melbourne Institute Consumer Sentiment Index fell heavily in April, declining 12.5% to 80.1 from 91.6 in March. The April sentiment drop is the biggest monthly decline since the onset of the COVID pandemic. At 80, the Index is back near historical lows, albeit above the extremes seen at the onset of the pandemic and during the recessions of the early 1990s and 1980s.

**Consumer Sentiment Index (April 2026):** 80.1  
**Change MoM:** -12.5%  
**Previous month (March 2026):** 91.6

Australian consumers are being hit by another ‘cost of living’ shock. The spike in fuel prices following the US–Israel war on Iran and a further 25bp interest rate increase are again putting finances under intense pressure. A sharp deterioration in expectations suggests consumers are bracing for a return to the extended period of weakness seen during the 2022–24 inflation fight.

All Index components deteriorated sharply in April. The Westpac–Melbourne Institute Consumer Sentiment Index is a composite measure based on five sub-indexes: one tracking assessments of family finances compared to a year ago; two tracking expectations for family finances and the...