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Story summary
- The ongoing war in Iran is expected to raise the UK's food prices, fuel costs, and interest rates.
- Energy shocks have driven high inflation, with food inflation at 3.3% in February.
- Proposals call for an essential energy guarantee for households to stabilize costs.
- They also propose an essential food guarantee to stabilize prices and reduce imports.
- The measures aim to protect living standards while promoting domestic production and energy transition.
