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Revised growth forecast
The Office for Budget Responsibility (OBR), has revised its forecast for economic growth for 2015 from the 2.4% forecast alongside the chancellor’s Autumn Statement in December 2014.
In 2016, growth as measured by GDP is expected to be 2.3%. The OBR expects consumer price inflation (CPI) to remain below 1½% until the end of 2016 and only then will it return slowly to the target rate of 2%.
http://cdn.budgetresponsibility.independent.gov.uk/March2015EFO_18-03-webv1.pdf