A Recap of New Economic Data The annual inflation rate in the United States accelerated for a second straight month to 3.7% in August from 3.2% in July, above market forecasts of 3.6%. In an attempt to tame rising consumer prices, the European Central Bank (ECB) has opted to increase interest rates to an unprecedented level. However, the euro's value declined on Sep 14, 2023 after the central bank hinted at the conclusion of its policy tightening due to economic slowdown (read: Time to Tap Eurozone ETFs as Rate-Hike Cycle Nearing End?).