Flights, food and fuel: What you need to know about the latest inflation figures

Flights, food and fuel: What you need to know about the latest inflation figuresJust nowShareSaveAdd as preferred on GoogleDharshini DavidDeputy economics editorGetty ImagesIt's becoming clearer how a war thousands of miles away is hitting pockets here in the UK, with the latest figures showing inflation has risen to 3.3% through the year to March.Petrol and diesel costs hit their highest levels in over three years - but the war's impact on inflation overall was quite small.However, with warnings of higher food costs and travel fares also looming - how high could inflation get? And what could it mean for borrowers and savers around the country?Here are three things you need to know.It's not only up from hereThe rising cost of filling up at the pumps may make it feel like the only way for is up, at least when it comes to the rate of prices rises, otherwise known as inflation. But that's not necessarily true - especially in the short run.Just consider what happens in April, the next set of inflation figures. The domestic energy price cap fell this month, as that is fixed several months behind the moves in global energy markets, so the cap reflects what was happening some time ago.That means the average energy bill for a household using a typical amount of gas and electricity will be about £10 a month lower from this month, which will put some downward pressure on inflation.(It's worth noting, however, that energy bills are expected to rise again with the next price cap from July, thanks largely to the war).Then there's fuel prices themselves. Petrol prices have started to inch down in recent days as the oil price has calmed, although they remain about 25p above what they were before the war per litre, and diesel remains more than 40p higher.And then there's the jump in airfares in March's figures. They actually reflect the relatively early timing of Easter.This year, the return leg of the long-haul flights they monitor had a ret...