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

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.