Eurozone inflation rises to 2.9% in July

Eurozone inflation rose to 2.9% in July, primarily driven by an energy shock. This increase ensures the ECB remains on high alert ahead of its September rate decision. Due to persistently high energy costs, the possibility of another rate rise remains on the table. The ECB is likely to act again in September to address these inflationary pressures, as the current economic data suggests that price stability has not yet been fully achieved.