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The Independent UK

Holly Evans

Iran conflict threatens new UK cost of living crisis as energy markets in ‘turmoil’ and mortgage rates on the rise

Oil Iran United Kingdom Bank of England FairFuelUK Interest Rates Petrol

A surge in oil prices due to the escalating conflict in the Middle East has prompted fears of a new cost of living crisis in the UK.

Experts are warning that rising prices and energy bills could fuel higher inflation, having a knock-on impact on mortgages, savings and spiralling food costs.

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