Europe's inflation slowdown proved short-lived.
After easing in June, consumer price growth in the eurozone accelerated again in July as the renewed conflict in the Middle East drove energy costs higher.
Eurostat's flash estimate showed that annual consumer price inflation across the bloc rose to 2.9% in July, up from 2.8% in June and in line with economists' expectations.
Core inflation, which strips out volatile food and energy prices, also ticked higher to 2.5%, from 2.4%. Energy recorded the highest annual jump, with prices rising 10% year-on-year, followed by services, up 3.3%.
That comes just one day after eurozone GDP unexpectedly accelerated in the second quarter, reinforcing the view that Europe's economy remains far more resilient than many had feared.
