Stories

Wed, 22 Apr 2026

Wed, 22 Apr 2026 UK inflation rises after Iran war pushes up fuel prices

The figures provide the first official look at the impact of the Iran war on the cost of living in the UK.

* Largest jump in petrol and diesel prices in over three years, up 8.7% month-on-month
* Airfares and food also contribute to rise, with food inflation up from 3.3% to 3.7%
* Wholesale energy prices soar due to war-related disruptions in Middle East
* Inflation expected to peak around 3.5-4% this year, higher than Bank of England's target of 2%
* Higher energy costs could slow down economy as people and businesses reduce spending
* Interest rates may be held steady or even increased by Bank of England due to inflation concerns