Euro zone inflation ticked up in July, adding to an already strong case for another European Central Bank interest rate hike, especially as high oil prices foreshadow a further broadening of price pressures.
Inflation in the 21 nations sharing the euro currency picked up to 2.9% in July from 2.8% a month earlier, in line expectations for 2.9%, with an Iran war-induced oil price surge driving the increase, Eurostat data showed on Friday.
