2  BIS Review 5/2010  Chart 1 Long-run relationship between WPI and CPI Inflation  10. In addition, annual inflation based on WPI, CPI-IW, GDP deflator, and PFCE deflator, over longer time spans, followed a similar path (Table 1). Table 1 Decadal Average Inflation  11.
Participation in this shock-absorption mechanism would be conditional on compliance with common standards in economic convergence. Unsurprisingly, the Report is far from being uncontroversial, most notably in the fiscal area. According to some, the weaknesses are such that the Report risks to be another “missed opportunity”.