German consumer mood hits new low as prices soarAFP, FRANKFURTThe mood among German consumers has reached an all-time low, a key survey published yesterday showed, as the war in Ukraine drives a painful wave of inflation. Pollster GfK’s forward-looking barometer fell to minus-27.4 points for next month, the lowest figure since the series started in 1991. The deterioration in the index was due “above all” to the rising cost of living, GfK consumer expert Rolf Buerkl said in a statement. “Broken supply chains,” which have likewise contributed to higher prices, were also behind the darkening mood among consumers, Buerkl said. Income expectations fell to minus-33.5 points this month, down by 9.8 points from the previous month, the lowest value in almost 20 years.

Source: Taipei Times June 29, 2022 02:47 UTC