UK inflation figures showing impact of Iran war on prices to be released shortly

Fuel price rises expected to push up inflation published at 06:28 BST Dharshini David Deputy economics editor The price of filling up at the pump is one of the most visible and immediate impacts of higher global energy costs, not just on our own budgets but the official figures too. Petrol and diesel prices climbed steadily during March. And while the inflation data was collected around the middle of that month, the rise by then - it is thought - could have been enough to add about 0.3% to inflation and derail a hoped-for drop. There is likely to be more price pressures in the pipeline from the rise in oil and gas prices. The impact on transport costs as well as fertiliser and other commodities could take several months to pass through supply chains to affect prices of items like food. Home energy bills could also rise in the months to come. But the potential rise in inflation is likely to be far more modest than that seen at the start of the war in Ukraine. The easing of oil prices in recent weeks has fuelled hopes that it will peak at between 3.5% and 4% this year - and that may mean the chances of an interest rate rise this year are retreating. Inflation figures due soon, showing impact of Iran war on UK cost of living published at 06:08 BST Jennifer Meierhans Business reporter Image source, EPA/Shutterstock The latest UK inflation figures, showing how quickly prices are rising, are due out later this morning at 07:00 BST . The data from the Office for National Statistics is for March - and will give us the first official look at how the US-Israel war with Iran has affected the cost of living in the UK. Inflation for February was 3%, and economists expect March's figure to rise to 3.3%, mainly because of higher petrol and diesel prices linked to the conflict. We'll bring you the headline figure here at 07:00 BST - along with analysis from our correspondents.