It’s official – Trumpflation has hit the UK economy as the first impacts of the war in Iran reveal themselves.
Over the last couple of weeks, there have been a few bits of surprisingly good economical news for the government. But each of these came with the crucial caveat that the figures were from the weeks and months before Donald Trump’s war in Iran.
The US and Israel’s joint military action in Iran has sent the price of oil rocketing after Iran effectively shut one of the world’s most important shipping routes, the Strait of Hormuz, with energy prices widely expected to soar this summer.
READ NEXT: Brits still think Keir Starmer is a more capable PM than Farage and Badenoch would be
The knock-on effects of the Strait of Hormuz blockade are wide-reaching, and there are concerns of a global recession as a result.
Already though, the impact on the UK economy is revealing itself, as the latest inflation figures were announced by the Office for National Statistics.
They announced on Wednesday that UK prices were up 3.3% in March, a rise of 0.3%. in the 12 months to February 2026.
Unsurprisingly, the inflation jump was largely driven by the largest increase in fuel prices for over three years.
Airfares and food prices going up also contributed to the inflation rise.
There’s no denying this has been almost single-handedly caused by the war in Iran, prompting some to label it ‘Trumpflation.’
The Lib Dems didn’t miss the chance to highlight how Kemi Badenoch and Nigel Farage had previously voiced their support for Trump’s war.
In a publicity stunt on Wednesday morning, they blamed the two party leaders for “cheering on Trumpflation,” putting cardboard cut-outs of the pair below a big Trump balloon.