"The ECB has already done a lot regarding inflation", Wieland added. Overall measures of inflation, such as the GDP deflator, have been going up. Therefore, according to Wieland, the risk of deflation is not that high. ECB communication regarding inflation is based on the Harmonized Index of Consumer Prices (HICP).
Watch the full length interview here
CNBC (short version): "ECB's communication has been 'at fault' when it comes to inflation, professor says"