Middle East war will leave UK households £480 poorer this year, says thinktank

Resolution Foundation says households face rising costs from higher bills for energy and filling up

Higher energy prices as a result of the Iran war are likely to deal a blow to Britons’ living standards, leaving them nearly £500 worse off this year, a thinktank has warned.

The Resolution Foundation said households faced rising costs from both higher gas and electricity bills and at the petrol pump.