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Projected Economic Impact Duration
Estimated period of continued economic pressure after conflict resolution
Primary Sources
This is how long UK price hike from Iran war is going to last
Consumers could see an increase in food prices for months after the end of the war in Iran, a cabinet minister has warned (Picture: EPA) Brits could bear the brunt of higher prices for more than eight months after the war in Iran has abated, a cabinet minister has said. Darren Jones said the country should be braced for ‘price pressures’ in several sectors including food, fuel and travel. He told the BBC’s Laura Kuenssberg the government was working to mitigate the impacts of the conflict, as the closure of the Strait of Hormuz has choked the global supply of natural gas. Sir Keir Starmer is due to chair a cabinet committee meeting on Tuesday to discuss the effects of the war and how to deal with possible disruption to supply chains. Government officials drew up plans for a ‘worse case scenario’ earlier this month, in the event food shortages hit by the summer. Jones said consumers needed to be prepared for a further hike in prices as a result of ‘what Trump has done in the Middle East’. The Chief Secretary to the Prime Minister said ministers were looking into ‘a lot of detail’ at the potential economic impact of the conflict, including on the cost of jet fuel, diesel and carbon dioxide. He said: ‘There is no denying there is going to be an economic impact as a result of what’s happening in the Middle East. ‘You’re going to see prices go up a bit as a consequence of what Donald Trump has done in the Middle East, and quite frankly that’s probably going to come online not just in the next few weeks but the next few months. ‘There’s going to be a long tail from this.’ The conflict in the Middle East threatens to disrupt global supplies of natural gas as well as other chemicals and CO2 (Picture: AFP) Pushed by Kuenssberg as to how long the disruption could last, Mr Jones said it would depend on whether a deal could be struck between Washington and Tehran. But he added: ‘I think our best guess is eight plus months from the point of resolution that you’ll see economic impacts coming through the system. ‘People will see higher energy prices, food prices, flight ticket prices as a consequence of what Donald Trump has done in the Middle East.’ One essential resource which could come under strain is CO2, which is routinely used in the slaughtering industry as well as to preserve food. Among measures to buffer the potential shock is government funding to reactivate the Ensus bioethanol plant in Teeside, which makes CO2 as a by-product. The facility told the BBC in ...
How the Iran war is hitting the UK | US-Israel war on Iran News | Al ...
London, United Kingdom – Recent headlines from British newspapers speak to different areas of tension in the UK due to the United States-Israel war on Iran: economic woes, political friction and worries about the country’s readiness for the future, strategically and militarily, if the conflict persists.On Thursday, the Financial Times blared, “Consumer confidence slumps to two-year low,” as The Guardian reported, “UK braces for price rises driven by Iran war as economic confidence plummets” and “UK prepared to deploy RAF Typhoons to keep Strait of Hormuz open after Iran war.” Earlier this month, The Independent reported that Prime Minister Keir Starmer risked US President Donald Trump’s wrath as he “refuses to let US use UK bases” for strikes on Iran’s infrastructure. And on Sunday, quoting a minister, The Times said the “economic fallout from the Iran war” would last at least eight months.Recommended Stories list of 4 itemslist 1 of 4Timeline: The highs and lows of the US-UK ‘special relationship’list 2 of 4Oil prices rise despite Iran’s proposal to reopen Strait of Hormuzlist 3 of 4Down but not out: In war with Israel, Hezbollah shows it is still powerfullist 4 of 4How Iran has changed, and how it hasn’t, in two months of warend of listBeyond the headlines is real public angst about what the war in Iran means on a human level and what the economic and political fallout may be.For Iranians living in the UK, there is a whole other level of worry.Omid Habibinia, a man in his 50s who was born in Tehran but moved to the UK 25 years ago, described the impact on him personally.“Since the first day of the war, connection has been cut off. I am witnessing the pain and suffering of those close to me, many of whom have no news of their families. Beyond the fact that around 90 million people inside Iran have effectively been imprisoned by the internet shutdown and millions more have been deprived of contact with their loved ones, the attacks on the country’s critical infrastructure – alongside the killing and injury of thousands of civilians and the displacement of many – are deeply distressing to me,” he told Al Jazeera.It seems clear that the impact will last long after the conflict has ended or at least a long-term ceasefire is agreed. There are worries of higher mortgage costs and higher food and fuel prices amid a continued cost-of-living crisis.Luke Bartholomew, deputy chief economist at fund manager Aberdeen, said the UK economy is “particularly badly exposed...
IMF warns economic fallout of US-Iran conflict will hit UK hardest
The UK's senior government officials intimate that people in Britain could face higher energy, food, and flight ticket prices for at least eight months after the end of the US-Israel war with Iran.
Britain faces eight months of economic pain after Iran war ends, warns ...
Britain faces at least eight months of economic pain because of the Iran war, the Chief Secretary to the Prime Minister has warned.
