Since the start of monetary union just over five years ago the Eurosystem has built up a good reputation and has gained the confidence of experts and the public alike. The euro is a stable and internationally respected currency.
According to the provisional estimate by Eurostat for the Harmonised Index of Consumer Prices, the price level in the euro area was 2.0% higher in April year on year compared with 1.7% in March. This is consistent with the ECB’s target of keeping price inflation to less than but close to 2% in the medium term.