The economics profession has taught us a lot about the merits of consumer price stability, about the value of independent central banks and the importance of credibility and commitment to the objective of price stability.
And a broad consensus has emerged on these issues, which is actually reflected in a number of very well-designed central bank statutes all over the world, with the ECB being only one, though prominent, example. Consumer price inflation has been successfully contained for quite some time now at least in the major OECD economies.