Poll: 80% of Britons Fear Iran Conflict Will Drive Up Grocery Prices

An Opinium poll has found that 80% of Britons are worried rising grocery prices due to the Iran conflict and the blockade of the Strait of Hormuz. The Bank of England forecasts food inflation will rise to 7% by the end of 2026, driven by higher fertiliser, energy and transport costs, while the Food & Drink Federation warns it could reach 9-10%. The British Retail Consortium has called on Chancellor Rachel Reeves to cut non-commodity energy costs for retailers, and energy producers like Equinor have posted huge profits amid the crisis, prompting calls from Greenpeace UK and Uplift for a windfall tax. Meanwhile, retailers like Next plc face £47 million in additional costs, airlines such as Virgin Atlantic have added fuel surcharges, and nearly six in 10 UK firms reported rising costs in April, raising the prospect of the Bank of England being forced to raise interest rates.