Brazil’s seasonally adjusted FGV-IBRE Consumer Confidence Index rose to 87.5 in September 2025, from 86.2 in August, the highest since December 2024. The gain was driven by expectations, with the Expectations Index climbing 3.7 points to 91.8, led by future local economic conditions (+6.9 to 104.6) and families’ financial outlook (+4.1 to 83.9). Planned durable goods purchases held at 88.2. In contrast, the Current Situation Index fell 2.5 points to 82.0, as both current economic conditions and family finances weakened. Confidence improved across higher-income groups but fell among lower and middle-income households. IBRE’s Anna Carolina Gouveia noted that a firm labor market and easing inflation supported optimism, though high household debt and delinquency remain key constraints.