Some economists and policy-makers are calling for the European Central Bank to add owner-occupied housing (OOH) costs to its inflation index.

Senior ECB official Yves Mersch has made a case for adding owner-occupier costs to the official inflation index used by the ECB. The debate follows almost seven years of the ECB failing to meet its inflation target. It was given more impetus by the launch of the ECB’s strategy review in January, the first one of the institution since 2003.

The ECB aims