Rising Tensions and Soaring Prices: A Perfect Storm for Global Economy The oil price has surged above $90 per barrel, sending shockwaves across the globe.
The concern is not just about the price tag but also about the instability caused by the US and Iran exchanging fire and the Houthis threatening a naval blockade in Saudi Arabia.
While grocery inflation rates have eased in the UK, with prices dropping to 2. 6% – its lowest since December 2024 – this small reprieve will likely be short lived for households struggling to make ends meet.