UK Inflation Jumps Amid War

The Office for National Statistics reported that UK inflation rose more than expected in March as the Iran war began to impact domestic energy prices.

Petrol and diesel prices saw their largest monthly increases in over three years, significantly squeezing household budgets and business margins.

Chancellor Rachel Reeves acknowledged the 'cost shock' but maintained that the government is working to decouple electricity prices from global gas volatility.

Analysts warn that if the Strait of Hormuz remains blockaded, inflationary pressures could persist well into the winter months.