MANILA – Filipino consumer confidence fell in the fourth quarter of 2025 due to concerns over graft and corruption, higher inflation, lower household income, and unfavorable weather conditions and other natural calamities.

Results from the latest Consumer Expectations Survey (CES) of the Bangko Sentral ng Pilipinas (BSP) show the overall consumer confidence index (CI) declined to -22.2 percent in Q4 from -9.8 percent in Q3 2025. A negative CI indicates that more respondents have a pessimistic outlook than an optimistic one.

Despite the decline, the consumer CI for the next quarter and the next 12 months remained positive at 3.6 percent and 11.8 percent, respectively, reflecting a generally favorable outlook in the near term.

Consumers also expect inflation over the next 12 months to stay within the National Government’s target range, signaling well-anchored household inflation expectations. The BSP noted that inflation remaining within target supports investments and job creation.

The CES is a key economic surveillance tool of the BSP, with its results serving as important inputs for monetary policy formulation.