Will Iran war make the UK cost of living crisis worse? – The Latest

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  This is The Guardian.

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  It feels

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  like it's kicking off on so many different fronts in terms of the things that we all spend our money on.

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  On the petrol and the diesel front, certainly already gone up.

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  The mortgage market is internal.

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  Energy bills, I think, if you're putting money on it,

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  I think you'd have to be saying that's going up.

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  The war in Iran has sent shockwaves through the global economy and could threaten a new cost of living crisis in the UK.

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  From the Guardians today in Focus, this is the latest of Meet Lucy Hough.

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  I'm joined by Rupert Jones, who is deputy editor of the Guardian's Money section.

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  Thanks so much for coming into the studio, Rupert.

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  So, I mean, people might recall, or it is in certainly recent memory,

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  the economic shockwaves that were sent out across global markets and for consumers in the wake of the Russian full-scale invasion of Ukraine.

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  One thing that's become clear in the week and a half or so

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  since the war broke out in Iran is that similar levels of economic shock are spreading.

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  in a way that consumers are already starting to feel the pinch and there are warnings that this could start to send energy bills here and elsewhere up yes that's right you're right it's um i mean with this thing that it's just it feels

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  like it's kicking off on so many different fronts of in terms of the things that we all spend our money on the things that we build on and in some things seem to be sort of there's maybe not that much movement right now other things are moving right now I mean so household energy bills is one of those ones where there's a little bit of security in that there's this off-gem price cap obviously that probably most people know about now that sort of you know that caps off the maximum of what you pay they've set it for the period 1st of April to the end of June so we've got that's nailed down

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  if you like it's not far away it's not it's not that far away of course the worry is I mean Yes,

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  there's been lots of sort of people,

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  there's various analysts have been have already I mean,

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