German Consumer Sentiment Slips to -30.8 for November as Inflation Fears Weigh on Income Outlook

German consumer sentiment is set to edge lower heading into November, with the GfK and Nuremberg Institute for Market Decisions (NIM) index falling to -30.8 points from -30.6 in October, slightly better than the -30.9 average analyst estimate in a Reuters poll. Income expectations dropped 0.7 points to -15.7, and willingness to buy lost just over a point to -11.9, as rising inflation and subdued income prospects dampened appetite for larger purchases. Price expectations rose to 1.0 point, signaling consumers anticipate further inflation after the rate hit 3.3% in September on higher fuel prices. Economic expectations improved for a sixth straight month, rising to 2.1 from -3.4 and moving above zero for the first time since the outbreak of the Iran war. Willingness to save fell 4.3 points to 17.2 but remains high. The survey of about 2,000 consumers was conducted October 1-12.