Import prices  12  30  9  20  6  10  3  0  0  -10  -3  -20 CY 20  21  y/y % chg.  22  23  -6 CY 20  21  22  23  Notes: 1.
4  BIS Review 156/2008  Figure 3 shows a scatterplot of the standard deviations of annual CPI inflation and real GDP growth for the euro area, the United States, and 47 other countries since the beginning of European Monetary Union. 5 As the figure makes clear, the performance of the euro area has been remarkable.