Eurozone Inflation Hits Near Three-Year High Amid Expectations of Rate Hike

The Eurozone's inflation rate rose to 3.3% in August, its highest level in nearly three years.

This increase marks the sixth consecutive month that inflation has remained above the European Central Bank's (ECB) 2% target.

Energy prices have been a significant factor contributing to the inflation outlook, with elevated costs attributed to the Iran war.

The latest data suggests renewed pressure on consumer prices and increased market expectations for further monetary policy tightening.