UK inflation jumps to 3.3%

The Office for National Statistics has reported that the UK inflation rate accelerated to 3.3% in March, up from 3.0% the previous month.

This increase was fueled by the largest monthly jump in petrol and diesel prices in over three years as the war in Iran disrupted global energy supplies.

Chancellor Rachel Reeves noted that while the conflict is not Britain's war, it is significantly impacting household bills and business costs.

Economists warn that persistent energy volatility may force the Bank of England to maintain higher interest rates for longer than previously expected.