Price-level targeting is a monetary policy strategy which, rather than looking at developments in the inflation rate over the course of a year – as the Eurosystem's two-pillar strategy does – instead bases its analysis on long-term developments in price levels. When targeting price levels, monetary policymakers use corrective measures to respond to any deviations from the target path for the price level. For instance, if, in a certain year, the inflation rate rises at a faster pace than envisaged, monetary policymakers set a target of keeping the rate of inflation in the following periods at a low enough level so as to ensure a return to the long-term target path for the price level. By contrast, the Eurosystem focuses on a target for the annual change in the inflation rate. As long as this change is within the bounds of the Eurosystem's definition of price stability, the target has been achieved. There are no attempts to correct targets missed in previous years in the years thereafter and thus no changes to the target rate of inflation. To date, price-level targeting has only been practised in Sweden in the 1930s.