Across the Atlantic, the economic damage from the conflict is proving far more durable than the diplomatic arrangements meant to end it. The New York Times reports that British officials are warning inflation will “linger” even if the US-Iran deal holds. The Bank of England has held interest rates steady since late last year, as the war in the Middle East drove up energy prices — and policymakers see no quick reversal.
The message from London is sobering: even a successful diplomatic resolution cannot instantly undo months of supply disruption and price volatility. For ordinary consumers in the UK and across Europe, the cost-of-living pressures born from geopolitical instability will persist well into the coming months.
