Eurozone Inflation Hits 3.3% in August, Fueling Rate Hike Bets

The Eurozone inflation rate rose to 3.3% in August, driven by higher energy costs.

The increase, from 2.9% in July, is attributed to rising crude oil and natural gas prices, as well as increased refiner margins.

Core inflation, which excludes volatile food and fuel prices, eased to 2.4%, a decrease from 2.5% in the previous month.

The European Central Bank (ECB) is expected to raise interest rates for the second time this year on September 10, with investors pricing in the move as a non-event for markets.