Eurozone inflation climbed to 2.9% in July on a 10.0% jump in energy prices, even as GDP grew 0.4% quarter-on-quarter and the composite PMI hit a nine-month high of 52.1. Markets are now pricing a possible ECB rate hike at the September 10 meeting.
July HICP still spans a wide EU range, from 0.3% in Sweden to 8.2% in Romania, even as the euro-area average edged up to 2.9% on energy. Source
