A slight slowdown in German shopper confidence is being blamed on high food prices, according to a recent national survey.
Market researcher GfK found that in October, despite a relatively high consumer confidence index for the country at large, rising food prices have the barometer at a lower level than this time last year.
"With rising food prices, many consumers consider their purchasing power, and from that their optimism moderates somewhat," said GfK spokesperson Rolf Bürkl.
Overall though, the German shoppers's mood is actually very positive. The previous month's confidence barometer reached the highest levels it had done in almost six years. GfK predicts that by the end of 2013, private consumption in Germany will increase by 1% and stimulate the economy further.
