Pandemic, inflation weaken German consumer sentiment

ANKARA

The ongoing coronavirus pandemic and record high inflation have weakened Germany's consumer sentiment expectation for next month, according to data analytics firm GfK.

The company said on Tuesday that it forecasts a decrease in consumer sentiment of -6.8 points for January 2022, down five points from December 2021 that stood at -1.8 points.

While this marks the second time in a row that consumer sentiment has fallen significantly, it is also the lowest level measured since June at -6.9 points.

"High case numbers due to the fourth wave of the Corona pandemic with further restrictions, as well as significantly increased prices, are putting more and more pressure on consumer sentiment," Rolf Burkl, GfK consumer expert, said in a statement.