Euro zone inflation on the rebound

The Euro zone inflation rate fared better than expected, clocking in at 0.4%, overstepping Eurostat's forecast of 0.3%, which expected a drop from July's rate of 0.4%. This is definitely good news for Mario Draghi who has set out to keep the inflation around 2%, after announcing that ECB would carry out the purchase of asset backed securities while steering clear of quantitative easing. Core inflation was up 0.1% to 0.9% compared to the month before.