The Central Bank of the Philippines published the second quarter 2025 results of its Consumer Expectations Survey, showing a further deterioration in current-quarter sentiment as the overall consumer confidence index fell to -14.0% from -13.0% in the first quarter. Respondents cited higher inflation, lower family income, and fewer job opportunities as the main drivers. While the current-quarter index remained negative, the consumer confidence indices for both the next quarter and the next 12 months were positive, indicating more upbeat expectations beyond the immediate term. Households also expect inflation over the next 12 months to remain within the National Government’s target range, pointing to easing household inflation expectations; the central bank noted that the survey is a key surveillance tool and an input to monetary policy formulation. The survey was conducted from 2–15 April 2025 and recorded 5,444 participating households out of 5,540 identified as eligible (98.3% response rate), with 2,408 respondents in the National Capital Region and 3,036 in areas outside the NCR.
Central Bank of the Philippines 2025-06-27
Central Bank of the Philippines Consumer Expectations Survey shows Q2 2025 consumer confidence index down to -14.0%
The Central Bank of the Philippines released the Q2 2025 Consumer Expectations Survey, showing a decline in the consumer confidence index to -14.0% from -13.0% in Q1, driven by concerns over inflation, income, and job opportunities. Despite the negative current-quarter index, future indices are positive, suggesting improved expectations. Households anticipate inflation to stay within the government's target range over the next year, aiding monetary policy formulation.