1. A method of controlling power consumption in a processing system, said method comprising: measuring an activity level within a processor of said processing system, wherein said processor operates at one of multiple selectable operating points corresponding to differing levels of power consumption; predicting a power consumption level of said processor for an operating point other than a present operating point of said processor, in conformity with said activity level and a presently selected operating point of said processor; determining whether or not said predicted power consumption of said processor would yield a power consumption higher than a threshold if at least one other operating point were selected; and in response to determining that said processor would not yield a power consumption higher than said threshold if said at least one other operating point were selected, selecting said at least one other operating point as an operating point of said processor.