Brazil Household Buy Intentions Hit 11-Year High as Consumer Confidence Ticks Down

Overview

• The CNC’s Intenção de Consumo das Famílias (ICF) rose 1.6% between April and May to 106.6 points, the highest reading since March 2015, the CNC reported on May 25, 2026.
• The ICF’s annual gain of 3.3% was driven largely by an 18.5% increase in willingness to purchase durable goods and stronger readings among households earning up to 10 minimum wages.
• FGV Ibre’s Índice de Confiança do Consumidor (ICC) fell 0.3 point to 88.8 in May as the Index of Expectations dropped 1.0 point to 91.3 while the Index of Current Situation rose 0.8 point to 86.1.
• CNC and market commentators say the improvement reflects localized disinflation in durables and stronger current employment perceptions but warn that the Selic rate near 14.5% and high credit costs limit immediate spending.
• If the trends persist, the durability-led lift in purchase intentions could boost retail sales among lower- and middle-income families, though costly borrowing and cautious future job prospects may slow a broader and sustained consumption recovery.