US Labor Department CPI for August showed YoY inflation unchanged and in line with expectations, the Washington Post reports. Energy costs rose while rent inflation continued to slow; overall housing-price growth has eased recently. UBS analysts say housing-cost growth is likely to continue slowing for roughly another year. Inflation has now exceeded the Federal Reserve’s 2% annual target for more than five years.

ECB executive board member Makhlouf said large rate hikes could hit economic growth.

A UK flight-management system suffered a major outage on the afternoon of the 8th after a UK military aircraft submitted what media described as 'false' flight data, shutting the system for about four hours and leading to the cancellation of more than 2,000 flights and the disruption of hundreds of thousands of passengers, the Guardian reported. The Financial Times, citing four people, said the military flight plan triggered the system collapse and it remained unrepaired for hours. The UK Ministry of Defence said it had seen no evidence of military wrongdoing; National Air Traffic Services is investigating.