The euro fell to its lowest level in 20 years against the dollar.

Reuters previously reported that euro zone inflation rose to another record in August, beating expectations and strengthening the case for the European Central Bank to raise interest rates before prices peak before the end of the year.

And pointed out that “consumer price growth in 19 countries using the euro currency rose to 9.1% in August after 8.9% in the previous month, according to the EU Statistics Agency.”

The cost of energy continued to influence prices, but food inflation also rose, while non-energy manufactured goods, which the European Central Bank is focusing on, posted a price increase of 5%.

The figures add to the fears of the European Central Bank, which is preparing to raise interest rates again next week, but the outlook is bleaker. Rising energy prices even before the start of the heating season will almost certainly cause inflation to continue to rise and exceed 10% before reaching its peak at the beginning of the year.