War in Middle East ‘could wipe out growth in UK living standards’
by Phillip Inman from World news | The Guardian on (#74031)
Rising oil and gas prices may hit increase of 300 a year for typical working-age households, says leading thinktank
Conflict in the Middle East could trigger an energy price shock that wipes out anticipated growth in living standards in the UK worth 300 for a typical working-age household over the coming year, a leading thinktank has warned.
The Resolution Foundation said a decent" one-off increase in average living standards this year and a bumper rise for lower-income households could be reversed by rising oil and gas prices as the Iran conflict disrupts supplies.
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