What disrupting the strait of Hormuz could mean for global cost-of-living pressures

The narrow shipping route on Iran's southern border carries one-fifth of global seaborne crude oil, one-fifth of LNG shipments and one-third of the most widely used fertiliser

Donald Trump's attempt to overthrow the Iranian government by force could trigger a new wave of cost-of-living pressures that embattled governments and central banks around the world will struggle to deal with.

The US-Israel attack on the Middle Eastern country at the weekend is the latest in a long series of global economic shocks.