Euro area inflation picked up unexpectedly last month and could accelerate further in the months ahead if elevated energy prices persist, potentially prompting the European Central Bank to reassess its policy stance.

Consumer prices across the 21 euro-using nations rose to 1.9% from 1.7% a month earlier, exceeding forecasts of 1.7%, as higher costs for unprocessed food and services offset weak energy prices, according to Eurostat data released Tuesday.

Core inflation — which strips out volatile food and fuel components — climbed to 2.4% from 2.2%.

The ECB typically looks through energy-driven volatility, but it may show less patience than in 2022, when it was slow to recognize the scale of the inflation surge and was later forced to raise interest rates at a record pace.

For now, however, these remain potential risks, while at present the single European currency is rapidly losing ground against the U.S. dollar.