It is very hard to measure time inconsistency. Perhaps the easiest -- and crudest -- method is the average inflation rate. It is also hard to measure central bank independece.
There is a strong negative correlation between inflation and central bank independence. However, not all economist agree that the causation runs from strong indepence to low inflation. For a good discussion see this paper:
http://rds.yahoo.com/_ylt=A0geu76i.l9HRV...
Time inconsistency is when you keep putting off hard work "till tomorrow".
Independent Central Bank guarantees government cannot do that with monetary policy - i.e. printing money and issuing debt.
