BERLIN- German consumers kept their spirits high heading into November despite rising inflation, as the mood improved for the second month in a row, according to a survey on Wednesday.
The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, rose to 0.9 points for November, from a revised 0.4 points a month earlier.
The reading compared with a Reuters forecast for -0.5.
However, the institute warned that the good feelings were unlikely to last if prices continued to climb, a trend that would also delay a fundamental recovery in consumer sentiment.
“German citizens seem to be expecting even more price hikes, which is why they consider it prudent to make purchases now to avoid even higher prices,” said GfK expert Rolf Buerkl. – Reuters
