The conflict in Iran is "likely to put upward pressure on inflation" over the coming months, Rachel Reeves has said.The Chancellor's warning about the impact of America and Israel's war with Tehran came after Prime Minister Sir Keir Starmer said the longer the war in the Middle East continues, the more likely it is there will be economic damage in the UK.

The conflict in Iran is "likely to put upward pressure on inflation" over the coming months, Rachel Reeves has said.The Chancellor's warning about the impact of America and Israel's war with Tehran came after Prime Minister Sir Keir Starmer said the longer the war in the Middle East continues, the more likely it is there will be economic damage in the UK.