The overall Consumer Confidence Index (CCI) improved to -9.9 index points in November 2025, continuing the gradual recovery observed since October. Compared to the previous month, the index increased by 1.4 index points, indicating a further strengthening of consumer sentiment, though confidence remains negative and below mid-year levels.

Both sub-indices contributed to the improvement in November. The Present Situation Index rose to -12.7, improving by 1.4 index points compared to October, while the Expectations Index strengthened to -7.2, improving by 1.3 index points. Despite these gains, assessments of current conditions remain more pessimistic than expectations for the future, highlighting ongoing pressure on household economic conditions.

At the indicator level, inflation continues to weigh heavily on consumer sentiment, though expectations eased somewhat. Perceptions of past inflation deteriorated again to -83 index points, matching the weakest reading observed earlier in the year and indicating persistent and intense price pressures as experienced by households. Inflation expectations improved to -33 index points from October’s low, but remain deeply negative, suggesting that concerns about future price developments remain elevated.

Assessments of the general economic situation present a mixed picture. Perceptions of recent economic developments weakened to -8 index points, while expectations regarding the country’s economic outlook edged down slightly to 6, pointing to some softening in macroeconomic optimism.

Indicators related to household finances and the labor market improved notably. Assessments of recent changes in personal financial position increased sharply to 10 index points, the highest point recorded in 2025, while expectations for future personal finances remained strongly positive at 18. Expectations regarding unemployment improved to -4 index points, suggesting reduced labor market concerns.

Sentiment related to consumption behavior strengthened further in November. The assessment of whether now is a good time to make major purchases improved to -27 index points, while expectations about making major purchases rose markedly to 16, approaching the highs observed during the summer months. These developments indicate growing confidence in forward-looking consumption decisions.

Indicators related to savings behavior also improved but remain fragile. The assessment of whether now is a good time to make savings increased to 54 index points, while expectations about future savings improved modestly to -45, though they remain clearly negative. Assessments of current financial standing deteriorated slightly to -22 index points, indicating that pressure on households persists despite improvements in perceived financial dynamics.

Overall, the November 2025 results point to a continued but uneven recovery in consumer confidence, driven by improved assessments of personal financial conditions and stronger consumption-related expectations. Nevertheless, persistently high perceived inflation and weak savings expectations continue to constrain confidence, underscoring the still-fragile nature of household sentiment.