Airfares, petrol pumps, rent: Inflation to jump due to Iran war April 20, 2026 Inflation is expected to jump to 3.3 per cent as the first effects of the war in Iran will be recorded in a new set of data. The Office for National Statistics (ONS) is expected to reveal that inflation inched up in the year to March due to soaring fuel prices and tremors across financial [...]
‘No more Mr Nice Guy’: Oil prices spike as Trump renews Iran power plant threats April 20, 2026 The price of oil has been driven higher by the latest round of escalations in the Middle East renewing fears of a drastic global energy shock. Brent crude – the international benchmark for oil prices – jumped over six per cent on Monday morning to over $96. It follows a weekend of tensions where shipping [...]
Unemployment to peak at 5.8 per cent as jobs market faces ‘biggest hit’ since pandemic April 20, 2026 Britain is set to be “pushed to the brink of a technical recession” in the coming year as the economic fallout of the war in Iran dampens growth prospects and sends unemployment soaring. The latest Item Club report sees the UK economy flatlining in the second and third quarters as it digests the consequences of [...]
Consumer confidence suffers biggest drop in four years amid Iran inflation fears April 20, 2026 Consumer confidence fell at the fastest rate in four years as Brits tightened their purse strings amid fears the Iran war will spike inflation. Brits’ confidence in their spending power fell by three per cent at the start of this year, as it reached its lowest level since 2023 and made the biggest drop since [...]
Bank of England will set ‘high bar’ for any interest rate change April 17, 2026 Policymakers at the Bank of England will set a ‘high bar’ for making any interest rate change later this month despite growing expectations of rising inflation, top City analyst Simon French has said. The previous energy shock suffered by the UK following the Russian invasion of Ukraine in 2022 saw inflation spike to as high [...]
Santander and TSB kick off mortgage rate cuts after Iran turmoil April 16, 2026 Santander and TSB have kicked off the mortgage rate cutting cycle after lenders pulled deals and hiked their rates amidst the turmoil in Iran. From Thursday, Santander said it would be lower the price on higher loan-to-value (LTV) mortgages products by near 0.3 per cent, which includes its two-year fixed, first-time buyer products. Meanwhile, TSB said it [...]
Supermarkets ‘taking mickey’ on pricing, says olive oil boss April 15, 2026 A leading retail trade body has taken on big olive oil over claims supermarkets are “taking the mickey” over their pricing of the product. The British Retail Consortium (BRC) has hit back at the boss of olive oil maker Filippo Berio after he accused grocers of failing to pass falling prices onto consumers. The price [...]
Bank of England could cut interest rates ‘if war ends’ April 15, 2026 The Bank of England could cut interest rates this year if the war in Iran ends and the Strait of Hormuz opens up within weeks, an economist at a City broker has said. Peel Hunt’s chief economist Kallum Pickering’s current assumption is that the Bank makes two interest rate cuts at the end of this [...]
Tesco nears crucial update as Iran war threatens food inflation April 15, 2026 As the bosses of the country’s biggest supermarkets crowded into the chancellor’s office earlier this month, no voice will have been as loud as that of Ken Murphy, chief executive of Tesco. Rachel Reeves summoned grocery executives to discuss how the Iran war will impact Brits’ weekly shops, and Tesco’s results tomorrow will pull back [...]
‘Mortgage mayhem’: Deal lifespans hit record low as interest rate cut hopes dim April 13, 2026 Borrowers have been left in a “mortgage maze” after lenders frantically pulled deals due to the unfolding crisis in the Middle East leading to the lowest average shelf-life on record. The average mortgage was on the market for just eight days in March – the lowest since records began in November 2011. This marks a [...]