Euro Zone Inflation Surges Past 3% as Rate Hike Bets Intensify

The European Central Bank (ECB) is likely to raise interest rates again this month, with inflation in the euro zone increasing to 3.3% in August.

This marks a return to above-3% inflation for the first time since July, and follows higher energy costs driven by rising crude oil and natural gas prices.

The ECB's own expectations suggest that a rate hike to 2.50% on September 10 will be a relatively easy decision, with financial investors already pricing in the move.