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German consumer sentiment rises
Morale on the German high street is set to rebound in July, with the GfK consumer confidence index edging up from 5.6 to 5.7, reversing four months of declines. The turnaround is partly due to a 2.5 per cent drop in fuel prices in June, economists at ING said yesterday. However, German consumer price index inflation held up at 2.3 per cent in June, according to an official estimate also released yesterday.