The overall Consumer Confidence Index (CCI) declined sharply to -13.0 index points in September 2025, marking a significant deterioration in consumer sentiment compared to August. The index fell by 3.6 index points month-on-month, reaching its lowest level since February and fully reversing the partial recovery observed during the summer months.

The decline in September was driven by a substantial worsening in assessments of current conditions, accompanied by weaker expectations. The Present Situation Index dropped markedly to -17.5, deteriorating by 5.6 index points compared to August, while the Expectations Index declined to -8.4, down by 1.5 index points. This pattern indicates that households’ immediate economic assessments deteriorated more strongly than their outlook for the future.

At the indicator level, inflation remains the dominant source of concern, despite slight easing in expectations. Perceptions of past inflation remained extremely weak at -81 index points, confirming that households continue to experience strong price pressures. Inflation expectations improved marginally to -26 index points, but remain negative, indicating persistent concerns about future price developments.

Assessments of the general economic situation weakened further. Perceptions of recent economic developments deteriorated to -7 index points, while expectations regarding the country’s economic outlook declined to 5, pointing to reduced confidence in near-term macroeconomic prospects.

Indicators related to household finances and savings deteriorated markedly in September. Assessments of recent changes in personal financial position declined to 3 index points, while expectations for future personal finances fell to 13, indicating weakening household-level optimism. The assessment of current financial standing worsened sharply to -27 index points, the weakest reading recorded in 2025.

Sentiment related to savings behavior weakened significantly. The assessment of whether now is a good time to make savings fell sharply to 37 index points, while expectations about future savings deteriorated further to -49, highlighting heightened concerns about households’ ability to make savings amid ongoing cost pressures.

Indicators related to consumption behavior show mixed but weakening dynamics. The assessment of whether now is a good time to make major purchases deteriorated slightly to -30 index points, while expectations about making major purchases improved modestly to 12, remaining positive but below summer highs.

Expectations regarding the labor market remained relatively stable. Expectations of unemployment stood at -5 index points, suggesting that labor market concerns did not materially intensify despite the broader decline in confidence.

Overall, the September 2025 results point to a renewed and pronounced weakening of consumer confidence, driven primarily by sharply deteriorating assessments of current financial conditions, weaker savings sentiment, and persistently high perceived inflation. These developments underscore the vulnerability of consumer sentiment to cost-of-living pressures and highlight the fragile nature of confidence recovery observed earlier in the year.