UK CPI inflation rose from 2.4% to 2.7% in May, according to the Office for National Statistics, a larger than expected rise driven by transport and clothing costs.
UK CPI inflation has fallen to 2.4% in April, a larger-than-expected drop from the 2.8% figure recorded in March.
The Bank of England's Monetary Policy Committee will tolerate missing the inflation target for the next two years in order to support the UK recovery, said Bank governor Mervyn King.
Debt monetisation is a "creeping reality" and will usher in a period of high inflation, according to an investment grade bond manager.
This year has been one of the most eventful in recent times. This round-up brings you the year in quotes, from the backbiting and baiting to the grandstanding and gerrymandering.
The impact of quantitative easing on scheme funding levels has been exaggerated and should not be used as an excuse to delay de-risking, Towers Watson says.
Hannah Brenton speaks to NAPF chairman Mark Hyde Harrison about why the government needs to overrule the regulator with regards to discount rates.
Schemes are being urged to reconsider "distorted" gilt holdings, as persistently low yields call into question the benefits of holding the asset class.