UK inflation jumps to 3.3% in March as fuel prices surge amid Iran war

uk inflation hit 3.3% in march, up from 3% in february, as the iran war drove fuel prices sharply higher. the office for national statistics released the preliminary data wednesday, matching economist expectations from a reuters poll. grant fitzner, ons chief economist, said fuel prices saw their largest increase in over three years. airfares and food prices also pushed inflation up, while clothing costs rose less than last year. raw material and factory-gate prices jumped on higher crude oil and petrol. the boe had been expected to cut rates before the war started on feb 28. economists now see a close call on whether policymakers will hike at the april 30 meeting, though a reuters poll shows most expect rates to stay unchanged for the rest of the year. donald trump extended a fragile ceasefire with iran on tuesday, but second-round talks set for pakistan were put on hold.