Headline inflation rose from a low of 3,9 per cent in February 2015 to as high as 7,0 per cent a year later before retreating to 6,1 per cent in May. Core inflation, which had trended modestly downwards for most of 2015, rose from 5,1 per cent last November to 5,5 per cent as of May.
What can they be told in order to convince them of the relevance of the measures undertaken at the European level? – On the issue of fiscal policies, I believe that the European Central Bank, through me, can reiterate certain points. Firstly, we always said that when there was a single currency but no political federation, there was a clear need for budgetary supervision.