Eurozone inflation hits 3.3% in August

The inflation rate in the Eurozone accelerated to 3.3% in August, up from 2.9% in July, surpassing the European Central Bank's target of 2%. Although core inflation declined to 2.4%, the overall inflation increase is primarily attributed to rising energy prices. The labor market remains stable, with a steady unemployment rate of 6.4%. Markets expect the European Central Bank to raise interest rates by 25 basis points at its September meeting to address the increasing inflationary pressures.

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