Inflation in the eurozone rose to 3.3% in August, the third consecutive month of gains, bolstering the case for the European Central Bank to hike rates and adding more fuel to the global bond selloff.
The annualized inflation rate has been stuck above the bank's 2% target since March, just after the start of the U.S. war with Iran sent energy prices soaring. The ECB had already been expected to raise rates at its meeting next week, even before today's data release.
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