War, inflation smash German consumer sentiment to 14-month low in April

By Tuba Sahin

ANKARA (AA) – Battered by inflation and the Russia-Ukraine war, German consumer confidence is expected to hit its weakest level in April since February 2021, a market research group said on Tuesday.

The consumer sentiment index is forecast to fall to minus 15.5 points in April, down seven points from a month ago, the GkF said.

Commenting on the data, the company’s consumer expert Rolf Buerkl said the surge in energy prices due to increasing uncertainty and sanctions against Russia weakened general consumer sentiment.

Income expectations of Germans decreased to -22.1 points, the lowest value recorded since January 2009. It stemmed from sharp price rises especially in gas, heating oil and gasoline, which is expected to melt away consumer buying power.

"A sustainable recovery of the consumer sentiment is only possible with a rapid cease-fire followed by peace negotiations," Buerkl said.