Relative European Inflation Rates+ BoE Might Limit Further Inflating
The notable exceptions being Latvia and Lithuania, and to a lesser extent also Estonia, who has much higher inflation than you would expect given their economic growth and given the fixed exchange rate they have to the euro. This is in part a result in the two former cases of an increase in the Value Added Tax (VAT) and in part the lagged effect of the previously very high money supply growth rates.
The U.K. number BTW apparently surprised many analysts significantly on the upside, as they didn't think that the extreme weakness of the pound would somehow cause import prices to go up and that this wouldn't also make domestic manufacturers more willing to raise prices (or abstain from cutting them. But no need to worry for British readers as the Keynesians at Telegraph assures you that a lower purchasing power of your earnings is good for you.
However, as a result of the higher inflation rate, Bank of England Governor Mervyn King seems to be getting second thoughts about his plans to inflate even more (at least about implementing it fully), something which caused the pound to rally yesterday.