ECB decided to revise its inflation target and allow consumer prices to overshoot when deemed necessary

  ECB President Christine Lagarde: 

... there might be some moderate, temporary deviation in either direction of that 2% and that is okay. What we are very concerned about is any sustainable, durable, significant deviation from the target and that will require forceful action.”

CNBC 8 July 2021

https://www.cnbc.com/2021/07/08/ecb-lagarde-presents-first-policy-review-in-almost-two-decades.html