To find the constant of proportionality in cents per pencil, we start with the information that the school store sells 2 pencils for 25 cents.
To find the cost per pencil, we divide the total cost by the number of pencils:
\[ \text{Cost per pencil} = \frac{25 \text{ cents}}{2 \text{ pencils}} = 12.5 \text{ cents per pencil} \]
Thus, the constant of proportionality is 12.5 per pencil.