Higher petrol, food and plane ticket prices will persist for “eight-plus months” following the end of the conflict, chief secretary to the Prime Minister Darren Jones said.
The minister said on Sunday: “You’re going to see prices go up a bit as a consequence of what Donald Trump has done in the Middle East.
“And quite frankly, that’s probably going to come online, not just in the next few weeks, but the next few months. There’s going to be a long tail from this.”
The blockage of the Strait of Hormuz has sent global energy prices soaring, with higher fuel prices felt by drivers in the UK and food price inflation predicted.
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