UK braces for price rises driven by Iran war as economic confidence plummets

Lets be honest.. Growth was already the one of the highest for Europe and the UK as usually was exceeding forecasts looking at 2.5%-3.5%. The manufacturering index has turned a corner has been showing growth for each month (it grew again in April) for 6 months now. Inflation was trending downwards meaning interest rates cuts were expected and Government investments in the grid were making real headway in cutting energy costs.  Wage growth continues to be higher than inflation, meaning people are generally getting better off. Also the recent tax changes doubled the tax receipts for capital gains tax and has narrowed the deficit to the lowest level in 5 years. The UK economy grew enough that its moved from 6th to 5th largest economy and is on track to overtake Germany and become the 4th. Venture capital, which had abandoned the UK over Brexit had returned and there has been a literal explosion in startups accross sectors and the country. The recent mostly nationalised steel mills have started to become profitable. If Iran hadn't happened Labour were on track for actually making us much better off, even now there is a lot of fear mongering but our economy doesn't seem to have taken the hit EU economies are suffering because brexit meant we pivotted away. So lets be honest

It wasn't though. Inflation was falling.