Latest UK-focused news and updates.
UK inflation remained stable at 3% in February, attributed to a decline in petrol prices and easing food inflation. However, concerns are rising as tensions escalate in the Middle East due to the ongoing conflict involving Iran, which could impact global energy prices.
European stock markets experienced a positive trend, buoyed by strong performances in Asian markets. The FTSE 100 index in London saw an increase of approximately 1%, gaining nearly 100 points to reach 10,063. Other major European indices also reported gains, with Germany's DAX and Italy's FTSE MiB both climbing by 1.7%, while France's CAC rose by 1.5% and Spain's Ibex by 1.6%.
In commodity markets, gold prices surged over 2% to $4,564 per ounce, although they have dropped by 13% since the onset of the Iran conflict on February 28. This decline raises questions about gold's reliability as a safe-haven asset during times of geopolitical uncertainty.
Oil prices have seen a decrease, with Brent crude falling by 6.3% to $97.96 per barrel. This drop follows speculation about a potential ceasefire in the Middle East, coinciding with former President Donald Trump's proposal of a 15-point peace plan to Tehran, despite Iran's continued missile strikes.
As the situation develops, UK consumers and businesses alike will be closely monitoring these economic indicators and geopolitical events.
Source: www.theguardian.com – https://www.theguardian.com/business/live/2026/mar/25/uk-inflation-steady-iran-war-oil-dips-trump-comments-business-live