Eurozone Inflation Hits Three-Year High Amid Energy Price Surge

The Eurozone has seen its inflation rate surge to a three-year high of 3.3 percent in August, according to official data released by the EU's statistical office, Eurostat.

This marks the highest level of inflation since September 2022 when it stood at 4.3 percent.

The current figure is significantly above the European Central Bank's (ECB) two-percent target and represents a sharp increase from July's 2.9 percent.

Eurostat noted that energy prices were the main driver of inflation, rising by 14.3 percent in August after increasing by 10.3 percent in July.