Oil to dampen German consumer mood in October

German consumer sentiment is set to worsen in October as soaring oil prices boost energy costs, crimping household income and discouraging shoppers from spending, a survey showed on Wednesday.

After unexpectedly rising in September, the GfK market research group’s forward-looking consumer sentiment indicator for October slipped to 3.1, a smaller decline than predicted, from a revised 3.3 the previous month.