UK families face £2,400 cost from Iran conflict

UK households are expected to lose an average of £2,400 in real income by 2027 due to inflation and stagnant wages driven by the Iran conflict. The Centre for Economics and Business Research estimates the economic impact will total £70.4 billion, with higher energy costs and steady interest rates reducing household spending power. Energy bills are projected to rise further in October after a regulator’s price cap increase, amid ongoing increases in wholesale oil and gas prices caused by the US-Iran war.

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