Over the 1994-2002 period, seven prominent inflation-targeting industrial countries had a mean inflation rate of consumer prices of 2.1 percent per year with a standard deviation of 1.7 percent. Both numbers are slightly higher than the mean and standard deviation of the eleven prominent nontargeting industrial countries.
Eliminating the labeled ECB countries from both groups leads to a targeting mean of 2.0 percent and a targeting standard deviation of 1.7 percent, with both numbers again slightly higher than the mean and standard deviation for the three nontargeters.