The overall Consumer Confidence Index (CCI) declined to -11.7 index points in December 2025, marking a renewed weakening of consumer sentiment compared to November. The index fell by 1.8 index points month-on-month, reversing part of the gradual improvement observed in the preceding months and closing the year at a relatively subdued level.

The deterioration in December was driven primarily by a sharp worsening in assessments of current conditions, while expectations improved slightly. The Present Situation Index dropped markedly to –17.0 index points, deteriorating by 4.3 index points compared to November, whereas the Expectations Index strengthened modestly to -6.5 index points, improving by 0.7 index points. This divergence indicates that households became significantly more pessimistic about their immediate economic situation, despite some stabilization in forward-looking views.

At the indicator level, inflation pressures intensified further toward the end of the year. Perceptions of past inflation deteriorated sharply to -87 index points, the weakest reading recorded in 2025, underscoring the strong and persistent impact of price increases on households. At the same time, inflation expectations improved to -24 index points, suggesting some easing in concerns about future price dynamics, even as experienced inflation remained severe.

Assessments of the general economic situation weakened considerably. Perceptions of recent economic developments fell sharply to -15 index points, while expectations regarding the country’s economic outlook declined to 3 index points, indicating a notable loss of macroeconomic confidence at the end of the year.

Indicators related to household finances and the labor market show mixed but generally weakening signals. Assessments of recent changes in personal financial position remained positive at 7 index points, though lower than in November, while expectations for future personal finances declined to 14 index points, pointing to reduced optimism at the household level. Expectations regarding unemployment stood at -5 index points, suggesting relatively stable labor market perceptions.

Sentiment related to consumption behavior weakened in December. The assessment of whether now is a good time to make major purchases deteriorated to -33 index points, reversing part of the improvement observed in November, while expectations about making major purchases increased further to 17 index points, indicating that forward-looking consumption intentions remained relatively resilient despite weaker current assessments.

Indicators related to savings behavior remained fragile. The assessment of whether now is a good time to make savings declined to 49 index points, while expectations about future savings remained deeply negative at -45 index points, signaling continued concerns about households’ ability to sustain savings. Assessments of current financial standing deteriorated further to -23 index points, highlighting persistent pressure on household balance sheets.

Overall, the December 2025 results suggest that consumer confidence ended the year on a weaker footing, driven by sharply deteriorating assessments of current economic conditions and intensifying perceived inflation. While expectations showed some stabilization, the year-end picture underscores the fragile, uneven, and inflation-constrained nature of consumer sentiment throughout 2025.