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

February annual rate in line with expectations, but Food and Drink Federation fears it is ‘calm before storm’

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The UK inflation rate held steady 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 remained at the same level as the previous month, in line with economists’ expectations but still well above the government’s 2% target.