According to Jin10, ING economist Carsten Brzeski said a September eurozone purchasing managers' index report showed economic activity remained strong despite surging oil prices, lower water levels, and supply chain disruptions, increasing the likelihood of another European Central Bank rate hike. The eurozone composite PMI rose to 53.1 in September from 52.0 in August, its highest level in nearly three and a half years. Brzeski said the PMI data made it harder even for the ECB's most dovish policymakers to rule out another rate hike, and he said the eurozone economy was likely to post fairly solid growth in the third quarter. He also said the survey showed inflation pressures rose again, with input costs and output prices increasing at their fastest pace in four months.