Their main contention is that average WPI inflation over the last three years for which data are available (February 2010 – January 2013), at 8.8 per cent, is significantly higher than the  1  The last time India experienced more than three successive years of inflation above 7.5 per cent was during 1990–96.
Without our exceptional measures, growth would be weaker, the unemployment rate higher and inflation would be zero or even negative. The ECB will continue to support the recovery of the euro area in an uncertain international climate. A highly accommodative monetary policy remains appropriate, and will continue to be appropriate until inflation is firmly back on track and heading towards 2%.