Germany’s retail sales plunge most since 1980

Bloomberg

German retail sales plummeted in June as consumers cut spending on non-essential goods to cope with record inflation.
Sales were down 9.8% from the previous year, the most since 1980 — before the country’s reunification. Non-food items such as furniture and household appliances or clothing and shoes registered even steeper declines.
The data add to an already strained outlook. Europe’s largest economy is suffering like few others from surging inflation as a result of Russia’s war in Ukraine, supply-chain disruptions and a looming
energy crisis.