A cyclist passes a Louis Vuitton luxury goods store, operated by LVMH Moet Hennessy Vuitton SE, in Munich, Germany, on Monday, Feb. 6, 2017. Even with consumer-price growth accelerating to 1.8 percent -- a rate not recorded since early 2013 --  European Central Bank president Mario Draghi can insist that unprecedented stimulus is necessary to put the recovery on a more solid footing and stoke underlying price pressures that continue to be muted. Photographer: Krisztian Bocsi/Bloomberg via Getty Images