When prices rise, people buy less. Who would have expected that?

German retail sales post surprise plunge in December amid rising prices – German retail sales unexpectedly fell in December as a Christmas shopping period weighed down by high inflation and the energy crisis revived fears of a more marked slowdown in Europe’s largest economy.

Retail sales decreased by 5.3% in December compared with the previous month, the federal statistics office said on Tuesday. Analysts polled by Reuters had forecast a 0.2% rise in price-adjusted terms.