Eurozone inflation resumes accelerating in August

EMU – HICP (Aug P): -0.2% UniCredit: -0.2% Consensus: -0.3% Last: -0.7% As widely anticipated, eurozone inflation resumed accelerating in August, rising to -0.2% vs. -0.7% previously. This is in line with our forecast. Data details are not yet available, but the inflation pick-up should be mostly explained by a large base effect on energy, turning eventually unfavorable. Moreover, the recent rally in oil prices has lifted considerably the price of oil-related