UK inflation to top 4%: BoE's King

Mervyn King, the governor of the Bank of England, has warned that UK annual inflation will rocket to more than 4% in the coming months.

"As things stand, inflation is likely to rise sharply in the second half of the year to above 4%," the governor said on Tuesday.

The prediction comes just over a month after the Monetary Policy Committee (MPC) said it expected inflation to peak at a little over 3.5%. However, the governor said that events since then had justified a sharp revision in the commi