12:56PM

Signing off...

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Thanks for following our coverage of the inflation figures for March, showing how the Iran war is impacting the British economy.

As ever, we will keep you up to speed with all the latest here .

12:43PM

Reeves’s inflation headache has only just begun

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The Iran war is driving up UK prices rapidly – but the impact of the biggest energy supply shock in history is only just beginning.

Soaring fuel prices drove Consumer Prices Index (CPI) inflation to 3.3pc in March , up from 3pc in February, according to new data from the Office for National Statistics (ONS).

The increase was largely driven by rising road fuel prices. By the end of March, drivers were paying an extra 20p per litre for petrol and 40p for diesel.

Rising prices are a headache for a Government that has promised to bring down the cost of living.…