Eurozone Inflation Returns Above 3%, Reinforcing ECB Rate-Hike Bets

According to Jin10, eurozone inflation rose back above 3% in August, strengthening market expectations that the European Central Bank will raise rates again this month. Eurostat data released on Tuesday showed inflation across the euro area’s 21 member states climbed to 3.3% from 2.9% in July, driven almost entirely by higher energy costs.