Inflation in the euro area rose this month to a 10-year high and is likely to continue rising, challenging the European Central Bank's moderate view of rising prices and its commitment to look beyond what it sees as a fleeting increase.
According to Arab Net, consumer prices in the 19 eurozone member states increased by 3% this month, compared to a 2.2% increase in July, which It far exceeds expectations for a 2.7% increase and is far from the ECB's 2% inflation target.
Eurostat said energy costs fueled the increase, but food prices also increased, and there were unusually large increases in commodity prices. Industrial.
With inflation in Germany, the euro zone's largest economy and the ECB's biggest critic, expected to approach 5 percent in the coming months, the Bank is likely to come under increasing pressure to resolve the issue. The problem of inflation that brought back memories of wild prices.
Core inflation, which excludes volatile food and fuel prices, increased in August and recorded 1.6 percent, compared to 0.9 percent, while it recorded 1.6 percent, excluding alcoholic beverages and tobacco also. % compared to 0.7%.
The European Central meets on September 9 and is expected to decide on the pace of its bond purchases in the next three months.
