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German consumer morale rises but at slower pace

(ANSA-AFP) - FRANKFURT AM MAIN, MAR 29 - German consumer morale rose again heading into April, a key survey showed Wednesday, but the pace of improvement slowed as concerns about high inflation weighed on Europe's top economy. Pollster GfK said its forward-looking survey of around 2,000 people climbed 1.1 points to reach minus 29.5 points, the sixth consecutive monthly increase. Relief that energy prices are falling, after surging sharply last year following Russia's invasion of Ukraine, was helping to boost the reading, Gfk said. But overall the consumer climate remained "very low", said GfK consumer expert Rolf Buerkl. "Inflation will remain high this year," he said. "The expected loss of purchasing power will prevent a sustained recovery of domestic demand." (ANSA-AFP).