Britain Faces Another Lost Year for Living Standards Due to Iran War

A typical UK household will be left nearly £500 ($672) worse off by surging energy prices, a setback for Prime Minister Keir Starmer’s pledge to boost living standards.

The Resolution Foundation warned on Monday that the median working-age household will suffer a 0.6% drop in income in the current financial year based on market forecasts for energy prices. That compares with a 0.9% increase previously expected.