Reeves is ready for 'pressure on inflation'

THE conflict in Iran is "likely to put upward pressure on inflation" over the coming months, Rachel Reeves said yesterday.

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The Chancellor's warning about the impact of the war with the Tehran regime started by the United States and Israel came after Prime Minister Sir Keir Starmer said that, the longer the war in the Middle East continues, the more likely it is there will be economic damage in the UK.

Ms Reeves said she was ready to support "a coordinated release" of international oil reserves to ease the economic shock of the crisis, and called for action to "guarantee the security of vessels passing through the Strait of Hormuz".