German November GfK Consumer Sentiment Slips to -30.8 as Inflation Concerns Persist

Germany's forward-looking GfK consumer sentiment index edged down to -30.8 heading into November, deteriorating from a revised -30.6 in the prior month. Consensus forecasts conflicted, with early reports citing -30.9 and later reports citing -29.1. Household confidence remained pressured by renewed price concerns following September's 3.3% inflation reading, which pushed price expectations up to 1.0. Income expectations slipped to -15.7 and willingness to buy fell to -11.9. However, general economic expectations rose for a sixth straight month, improving to 2.1 from -3.4.