Over nearly thirteen years, and in spite of a series of major global economic and financial shocks, average yearly inflation has remained at 2.0% for 332 million fellow citizens. Despite the successive rises of the price of oil and commodities, it is the best result, over such a period of time, of the 50 last years in any large country in Europe.
In Germany, with average yearly inflation of 1.6% over 13 years, it is a better result than before the Euro. Equally important is the low level of the inflation expectations. The ECB Governing Council is providing a very solid anchoring of price stability over the next ten years, fully in line with our definition: less than 2%, but close to 2%.