Brazil Household Debt Returns to Record in January, CNC Says

Overview

• The share of families reporting debt rose to 79.5% in January, up from 78.9% in December and matching the prior record set in October 2025, according to CNC.
• Average income committed to debt climbed to 29.7%, the highest since May 2025, indicating heavier monthly repayment burdens.
• Household delinquency in the CNC survey held essentially steady at 12.7%, while 19.5% reported more than half of their income tied to debts and 16.1% identified as very indebted.
• Central bank data show household indebtedness equal to 49.3% of annual income and system-wide delinquency at 4%, marking the largest increase in three years.
• Unsecured personal loan costs reached about 59.4% per year as banks grew more selective, and CNC projects some easing for consumers in the second quarter if the Selic cutting cycle starts next month.