According to CoinMeta, data released on Friday by the French National Institute of Statistics and Economics (INSEE) showed that France's inflation rate in July increased by 2.4% year-on-year, exceeding the expected 2%. This unexpectedly accelerated inflation figure provides support for the European Central Bank (ECB) to raise interest rates again. Analysts expect that due to the escalation of conflicts in the Middle East, the inflation rate in the eurozone will rise from 2.8% to 2.9%. In addition, France's service sector inflation indicator rose by 2.3% in July, compared to 1.9% in June, with the energy sector seeing an acceleration in inflation to 12.4%. Economists generally expect the ECB to raise interest rates by 25 basis points at its September meeting, but the yet-to-be-released inflation data may affect this forecast.