Eurozone inflation rises to 3.3% in August, ECB rate hike on agenda

Eurozone inflation based on the consumer price index rose to 3.3% in August from 2.9% in July.

The main driver of this increase was a 14.3% annual surge in energy prices caused by a supply shock following the closure of the Strait of Hormuz to oil and gas exports due to the Iran War. Core inflation…