The ANZ-Roy Morgan Australian consumer confidence rose 0.3 points to 75.6 in the week of July 13 to July 19, ANZ reported Tuesday.
The four-week moving average rose 0.7 points to 75.4, per the report.
Australian consumer confidence edged higher last week, with improved sentiment around major household purchases largely offset by "weaker confidence in personal finances and the economic outlook," according to ANZ economist Sophia Angala.
The Reserve Bank of Australia may keep the cash rate unchanged in August, but renewed inflationary pressures could prompt a rate hike in November, despite expectations that rates will remain steady through the near term, Angala added.
Weekly inflation expectations inched up to 5.8% from 5.7%, while the current financial condition indicator for 12 months increased 0.8 points to 66.1. The future financial conditions for the next 12 months fell to 82.5 points from 84.6.
Short-term economic confidence for the next year fell 1.6 points to 67.7, while medium-term economic confidence for the next five years increased to 81.4 points from 80.6.
The "time to buy a major household item" subcategory rose 3.8 points to 80.3.