"The rise from 3% in the year to February was largely due to increased fuel prices, while airfares and food also contributed, according to the Office for National Statistics."
"Inflation is now expected to be higher this year due to the war, and higher energy costs could also slow down the economy as people and businesses have less money to spend."
"Wholesale energy prices have soared since the Iran war began on 28 February, with the production and transportation of energy across the Middle East slowing or stopping entirely due to missile strikes and drone attacks."
"The monthly cost of both raw materials for businesses and goods leaving factories rose substantially, driven by higher crude oil and petrol prices."
The UK inflation rate increased to 3.3% in March, influenced by rising petrol and diesel prices amid the US-Israel war with Iran. The Office for National Statistics reported that fuel prices were the primary driver, with airfares and food also contributing. Economists predict inflation could peak between 3.5% and 4% this year, exceeding the Bank of England's target of 2%. Wholesale energy prices surged due to disruptions in the Middle East, impacting the cost of living and economic activity.
Read at www.bbc.com
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