The United Kingdom government on Sunday warned that prices will stay high for a long time even after the war in Iran ends.
Energy, food, and transport costs have already risen, and officials say the effects will continue for months becauseglobal oil supply routes have been disrupted.
Chief Secretary to the Prime Minister Darren Jones said Britain could still feel the economic effects of the conflict for months even fighting stops in Iran.
He said people should expect a long period of impact, stating: 'I think our best guess is eight-plus months from the point of resolution that you'll see economic impacts coming through the system', theBBCreported.
'So people will see higher energy prices, food prices ...flight ticket pricesas a consequence of what (US President) Donald Trump has done in the Middle East', he added.
This means that even if the war ends, prices may remain high for most of the following year.
The main reason for rising prices is the war in Iran and disruption in the Strait of Hormuz, resulting in high energy costs around the world.
Even when oil prices stabilise, past increases continue to affect the economy.
The government says there will be no quick relief for households because supply chains remain under stress.
Jones also warned that the UK is more likely to face higher prices rather thanempty shelves. This means goods should still be available, but at higher costs.
Source: International Business Times UK
