Eurozone Inflation Rises Ahead of September ECB Meeting

Inflation in the euro area picked up more than economists predicted, setting the stage for European Central Bank policy makers to debate the future of their stimulus program.Consumer prices rose 1.5 percent in August after 1.3 percent in July, the European Union’s statistics office said on Thursday. That’s the highest reading in four months and exceeds the median forecast of 1.4 percent in a Bloomberg survey.

The acceleration, which is almost exclusively due to energy prices, follows stronger than expected inflation readings for Germany and Spain earlier this week. Euro-area core inflation, which strips out volatile elements such as food and fuel, held at a tepid 1.2 percent.

Source: Euro-Area Inflation Gathers Pace as ECB Weighs Future Stimulus – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.