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The conflict in Iran is “likely to put upward pressure on inflation” over the coming months, Rachel Reeves has said. The Chancellor’s warning about the impact of America and Israel’s war with Tehran came after Prime Minister Sir Keir Starmer said the longer the war in the Middle East continues, the more likely it is there will be economic damage in the UK. Since the war began on Saturday, February 28, wholesale oil prices have risen to levels not seen for years, creating concern on how this could affect economies around the world. With oil prices rising, conflict in the Middle East could also have an impact on the cost of living for those across the UK. Continue reading at Manchester Evening News: Five ways UK bills set to spike due to Middle East war as Rachel Reeves issues warning https://www.manchestereveningnews.co.... LIKE | COMMENT | SUBSCRIBE | SHARE #ukpolitics #Iran #war