According to CoinMeta, data released by the European Union Statistical Office on Friday showed that driven by the surge in oil prices caused by the war in Iran, the inflation rate in the eurozone rose slightly from 2.8% last month to 2.9% in July, in line with market expectations. The core inflation rate, which excludes more volatile food and energy prices, also accelerated from 2.4% to 2.5%, with the inflation rate in the service sector rising to 3.3%. Analyst Balazs Koranyi stated that although the July inflation data is crucial, it is unlikely to become a key factor in determining the policy of the European Central Bank, as policymakers will receive new inflation data in August before the next interest rate meeting, and oil prices have been showing high volatility.