Economists are broadly positive on the plans announced in the emergency Budget and are scrambling to revise their own growth forecasts in light of the austerity measures.
The consumer price index (CPI) of inflation eased in May to 3.4%, down from 3.7% in April, according to the Office for National Statistics (ONS).
The Consumer Prices Index (CPI) hit a 17-month high of 3.7% in April, forcing Bank of England governor Mervyn King to write to new Chancellor George Osborne to explain why.
Annual eurozone consumer price inflation rose to a 16-month high of 1.5% in April, driven by rising energy prices, according to data released last week by Eurostat.
The Consumer Prices Index (CPI) hit a 17-month high of 3.7% in April, forcing Bank of England governor Mervyn King to write to new Chancellor George Osborne to explain why.
Inflation figures released last week by the Office for National Statistics show a higher-than-expected jump, while the Bank of England's Monetary Policy Committee (MPC) has revealed its members are increasingly worried about the rise.
Inflation rose to a higher-than-expected 3.4% in March, according to the Office for National Statistics.
Premier's Alex Ross is bullish on the outlook for the central London office rental market predicating demand will outstrip supply
Inflation fell back to 3% in February after a sharp spike at the beginning of the year.
UK inflation has hit 3.5%, prompting Mervyn King to write a letter of explanation to the Chancellor.