Eurostat, the European Union’s statistical office, released figures moments ago showing that annual inflation in the Eurozone rose to 3.3% in August, according to the preliminary reading, compared to 2.9% in July, matching market expectations.

The largest contributor to inflation in August was the energy sector, which jumped 14.3% after growing 10.3% in July. Services rose 3.0% from 3.3% in July, while the food, alcoholic beverages, and tobacco sector index remained stable at 1.2%, and the non-energy industrial goods index rose 1.2% from 0.9%.

The core index, which excludes food and energy prices, rose 2.4% in August compared to 2.5% in July, falling short of market expectations of 2.5% growth.