Eurozone inflation is likely to soar to the fastest rate since 2023 this month, continuing to put pressure on policymakers to raise interest rates. According to the median forecast of a survey of 31 economists, consumer prices rose 3.3% year over year in August, up from 2.9% in July. Individual indicators for Germany and Italy are also expected to show a similar acceleration, mainly driven by rising energy costs driven by ongoing tension in the Middle East. These results will follow data from two other major Eurozone economies released on Friday. Spain's inflation jumped to more than double the ECB's 2% target, and France's data also surpassed expectations.

Eurozone inflation is likely to soar to the fastest rate since 2023 this month, continuing to put pressure on policymakers to raise interest rates. According to the median forecast of a survey of 31 economists, consumer prices rose 3.3% year over year in August, up from 2.9% in July. Individual indicators for Germany and Italy are also expected to show a similar acceleration, mainly driven by rising energy costs driven by ongoing tension in the Middle East. These results will follow data from two other major Eurozone economies released on Friday. Spain's inflation jumped to more than double the ECB's 2% target, and France's data also surpassed expectations.