European Central Bank president Christine Lagarde. Photo: Reuters
Euro-area inflation accelerated beyond the European Central Bank’s target, cementing expectations that officials will keep interest rates steady when they meet next week.
Consumer prices rose 2.1pc from a year ago in August, edging up from 2pc the previous month and meeting the estimates of economists in a Bloomberg poll. A core measure that strips out volatile components like energy and food held at 2.3pc. Closely watched gains in services prices eased to 3.1pc.
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