UK inflation held at 3% before global energy price hit from Iran war

February annual rate in line with analysts’ expectations but outlook has shifted because of effects of conflict

The UK inflation rate was unchanged at 3% in February, before Donald Trump’s Iran war drove up global energy costs, threatening a renewed price jump.

Official figures showed the consumer prices index (CPI) remained at 3%, in line with economists’ expectations but still well above the government’s 2% target.