SYDNEY, (Reuters) – A gauge of Australian consumer sentiment fell for the sixth consecutive month to a 212-month low in May. Rising inflation and higher interest rates weighed down on families’ finances and their spending plans.

On Wednesday, the Westpac-Melbourne Institute consumer sentiment index fell 5.6% from April’s 0.9%. It was at 90.5 this May, down 20% from last year. That means optimists are far more common than pessimists.

Scott Morrison is facing a difficult election and could face trouble from the public if this mood turns gloomy. He has been consistently in the back of opinion polls.

Bill Evans, chief economist at Westpac said that “two stunning developments are clearly unnerving customers.”

“First of all, the headline inflation was elevated above 5% by April 27, for only the second time since 2007. “Then on April 27, headline inflation was reported to have risen above 5% for the first-time since 2007. The Reserve Bank then raised its cash rate, May 2nd. This is the first increase in the cash rate since 2010.

The Reserve Bank of Australia (RBA), a bank in Australia, raised interest rates by quarter-point to 0.35%. They warned that additional hikes are needed to curb runaway inflation.

In addition to the rising cost of borrowing, there are also increasing prices for fuel, housing, and food. The survey measured family finances in 12 months and it fell 11.2%.

Comparing to a year ago, finances edged up 0.3% but this was after a dramatic fall in April.

Retailers are now facing a dire sign: The survey’s gauge of when it is a good time for major household items fell another 5.7%, bringing the total down to 24% from a year earlier.

Consumers also were downbeat about the future, with the survey’s measurement of the economic outlook over the next 12 month dropping by 5.8% while that for the five-year outlook losing 4.1%.