Final Results for November 2025
| Nov | Oct | Nov | M-M | Y-Y | |
| 2025 | 2025 | 2024 | Change | Change | |
| Index of Consumer Sentiment | 51.0 | 53.6 | 71.8 | -4.9% | -29.0% |
| Current Economic Conditions | 51.1 | 58.6 | 63.9 | -12.8% | -20.0% |
| Index of Consumer Expectations | 51.0 | 50.3 | 76.9 | +1.4% | -33.7% |
Read our November 21st special reports:
• National Estimates Continue to Align With Views of Independents
• November 2025 Update: Current versus Pre-Pandemic Long-Run Inflation Expectations
Next data release: Friday, December 05, 2025 for Preliminary December data at 10am ET
Surveys of Consumers Director Joanne Hsu
Consumer sentiment was little changed this month with a 2.6 index point decrease from October that is within the margin of error. After the federal shutdown ended, sentiment lifted slightly from its mid-month reading. However, consumers remain frustrated about the persistence of high prices and weakening incomes. This month, current personal finances and buying conditions for durables both plunged more than 10%, whereas expectations for the future improved modestly. By the end of the month, sentiment for consumers with the largest stock holdings lost the gains seen at the preliminary reading. This group’s sentiment dropped about 2 index points from October, likely a consequence of the stock market declines seen over the past two weeks.
Year-ahead inflation expectations inched down from 4.6% last month to 4.5% this month. This marks three consecutive months of declines, but short-run inflation expectations still remain above the 3.3% seen in January. Long-run inflation expectations softened from 3.9% last month to 3.4% in November. These expectations are now modestly above the 3.2% January 2025 reading. Despite these improvements in the future trajectory of inflation, consumers continue to report that their personal finances now are weighed down by the present state of high prices.
Year-ahead inflation expectations inched down from 4.6% last month to 4.5% this month. This marks three consecutive months of declines, but short-run inflation expectations still remain above the 3.3% seen in January. Long-run inflation expectations softened from 3.9% last month to 3.4% in November. These expectations are now modestly above the 3.2% January 2025 reading. Despite these improvements in the future trajectory of inflation, consumers continue to report that their personal finances now are weighed down by the present state of high prices.