By Tuba Ongun
ANKARA (AA) – German consumer morale is expected to decrease to -25.5 in September, falling short of the market forecast, according to a market researcher GfK institute survey released on Tuesday.
Down from a revised minus 24.6 in August, German consumer sentiment hit the lowest reading since May.
"Persistently high inflation rates, especially for food and energy supplies, ensure that the consumer sentiment is currently not making any progress," said Rolf Burkl, a consumer expert for Nuremberg-based GfK.
Income expectations dropped 6.4 points month-on-month to -11.5 points, led by the continuing surge in food and energy prices.
Economic expectations fell into negative territory, down to the lowest value of this year at -6.2 points.