Where is the inflation rate heading amid hostilities?

UK inflation is expected to have been broadly steady last month but experts warn of another “twist” to the cost-of-living story in the months ahead, as war in the Middle East is set to send energy bills soaring.

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The rate of Consumer Prices Index (CPI) inflation has been gradually easing back towards the Bank of England's 2% target level since last summer.

Some analysts are expecting CPI to have held relatively steady in February, or dipped slightly, from the 3% level recorded in January.

Official figures for last month will be published on Wednesday.

Economists for Deutsche Bank and Pantheon Macroeconomics said they are anticipating CPI to hold steady at 3% in February, with lower fuel and services inflation being offset by higher clothes prices and air fares.