According to CoinMeta, data from the European Union Statistical Office shows that consumer prices in the eurozone rose by 2.9% year-on-year in July, higher than the 2.8% in June. Driven by rising oil prices after the breakdown of the ceasefire agreement between the United States and Iran, inflation in the eurozone rebounded in July, and market expectations for the European Central Bank to raise interest rates again have increased. Energy prices in the eurozone increased by 10%, and both service prices and core inflation indicators accelerated.