- A government minister has warned that price hikes resulting from the Iran war will persist for at least eight months after the conflict concludes.
- Darren Jones, chief secretary to the prime minister, stated that consumers will face increased energy, food, and flight costs.
- He attributed these economic consequences to actions taken by Donald Trump in the Middle East; Mr Jones clarified that the impact is more likely to be higher prices rather than shortages on supermarket shelves.
- The economic disruption is expected to have a “long tail”, lasting over eight months from the conflict's resolution.
- Iran has offered to reopen the Strait of Hormuz in a new peace proposal to the US which would see a permanent end to the war, according to a report in Axios.
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