Question: The European Central Bank (ECB) has translated its primary objective of price stability into an explicit, quantitative goal of keeping euro-area annual inflation close to,

The European Central Bank (ECB) has translated its primary objective of price stability into an explicit, quantitative goal of keeping euro-area annual inflation close to, but below, 2 percent over the medium term. Plot the percent change from a year ago of the euro-area price level (FRED code: CP0000EZ17M086NEST). Evaluate the performance of the ECB on average since 2000 and over shorter intervals. Download the data and compute the average inflation rate for the full period and for the periods 2008-2009, 2010-2011, and 2012-present.

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