The Melbourne Institute of Consumer Sentiment index rose by 2.7%, from 79.2 in June to 81.3 in July. Sentiment remains at the deeply pessimistic levels that have prevailed for just over a year now. The Index plunged 17% over the first half of 2022 and has barely budged since then, holding in the very weak 78-86 range. Even with the latest modest lift, the Index is still firmly in this range and 3% below its level of a year ago. The main drags on sentiment throughout this period of depressingly low consumer sentiment have been the surging cost of living and sharply higher interest rates. Our research suggests ... (full story)