UK inflation held at 3% before global energy price hit from Iran war

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February annual rate in line with analysts’ expectations but outlook has shifted because of effects of conflict

The UK inflation rate was unchanged at 3% in February, before Donald Trump’s Iran war drove up global energy costs, threatening a renewed price jump.

Official figures showed the consumer prices index (CPI) remained at 3%, in line with economists’ expectations but still well above the government’s 2% target.

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