The conflict in the Middle East has increased pressure on the cost of petrol, household energy bills and even food.
However, analysts say there is no expectation or the rate of inflation returning to the peak of 11.1% seen in the UK in October 2022. That is because the war in Ukraine also caused spikes in the prices of basic foodstuffs, such as wheat and edible oil, owing to the role of Ukraine in producing those items. That is not the case now.
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