Eurozone inf returned above 3% in August, reinforcing market expectations of an
ECB rate hike this month. Eurostat said the Aug inf rate rose to 3.3% from 2.9%
in July, nearly entirely driven by higher energy costs as oil and gas prices
climbed and refiners widened margins. The ongoing Iran war is adding upward
pressure on prices. Underlying price pressures remain modest, suggesting the
energy-driven spike has not yet produced broad second‑round effects that would
force the ECB into a more aggressive tightening path.
