Pessimism takes root in UK as shoppers struggle to afford essentials

Millions are dipping into savings or borrowing to get by as the Iran war drives up prices, survey shows

The Iran war has led to a surge in pessimism in the UK as half of households are already struggling to afford everyday essentials.

The escalating conflict in the Middle East, which has driven the price of oil, gas, crop fertiliser and other raw materials sharply higher, threatens to cause another cost of living shock.