Britain is counting the cost of ‘Trumpflation’ today after figures showed inflation surging.
The headline CPI rate rose to 3.3 per cent last month as the fallout from the US-Israeli war on Iran started to be felt.
That was up from 3 per cent in February, and the highest annual level since December. Until the Middle East crisis erupted there had been hopes inflation would be returning to the Bank of England’s 2 per cent target soon, paving the way for interest rate cuts.
The Office for National Statistics (ONS) said higher motor fuel was the main driver of the increase, up by
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