UK inflation rises to 3.3% amid soaring fuel prices driven by Iran war

Annual March rate adds to pressure on household finances and follows warnings of slowdown to UK economyBusiness live – latest updatesUK inflation rose by 3.3% in March after the surge in fuel prices triggered by the Iran war led to the biggest jump in transport costs since December 2022.Figures from the Office for National Statistics (ONS) show the consumer prices index increased last month from 3% in February, adding to pressure on household finances already battered by a cost of living crisis. The rise matched City economists’s forecasts. Continue reading...