6:39 am, March 10, 2026
UK inflation ‘to be pushed higher’ by energy prices amid Iran conflict
Inflation will be higher than expected throughout 2026 as the conflict in the Middle East pushes up energy prices, the British Chambers of Commerce has warned.
Economists at the influential business group also warned that UK economic growth will slow and unemployment will continue rising, in a downbeat outlook for the government.
The BCC’s latest economic report said the geopolitical situation remains ‘highly uncertain’ but could ‘change the economic outlook considerably’. It predicted that UK Consumer Prices Index inflation – which was 3% in January – will be at 2.7% by the end of the year. It had previously predicted it would have slowed to 2.1%.
Wet February dampens retail sales amid Middle East conflict threat to confidence
February’s wet weather dampened retail sales across the UK amid warnings that the Middle East conflict is threatening to halt any longer-term recovery in consumer confidence.
Total UK retail sales increased by just 1.1% year on year, against already sluggish growth last February and well below the 12-month average of 2.3%, according to British Retail Consortium (BRC) and KPMG figures.
Food sales were flat in real terms at 2.9% – below the 12-month average growth of 3.8% – as shoppers tightened their belts. Non-food sales fell by 0.4% overall – rising in stores by 0.2% but declining by 1.3% online as households reined in spending after Christmas and January’s rebound.
Lotus aims to broaden Eletre’s appeal with new hybrid model
Lotus is looking to expand the appeal for its Eletre SUV with a new hybrid model.
Essentially a range-extender hybrid, the Eletre X uses a 148bhp generator which replenishes the battery when the car is in motion. Designed to be electric-first, this setup produces a total of 938bhp and 935Nm of torque, equating to a 0-60mph time of just under 3.3 seconds.
Despite this, Lotus says that the Eletre X will manage up to 217 miles of electric-only range, or up to 754 miles with a combination of petrol and electric power. A high-powered 900-volt electric infrastructure means that the Eletre X can be charged from 20 to 80 per cent in nine minutes. Prices will be revealed later.
The markets
Stock prices in London closed lower on Monday, but the FTSE 100 steadily pared earlier losses throughout the day as investors mulled the impact of the ongoing war in the Middle East on inflation and interest rates.
The FTSE 100 index closed down 35.23 points, 0.3%, at 10,249.52. The FTSE 250 ended down 357.65 points, 1.6%, at 22,143.30, and the AIM all-share closed down 17.46 points, 2.2%, at 767.24.
The pound climbed to 1.3396 US dollars on Monday afternoon from 1.3387 dollars at the equities close on Friday. The euro stood slightly lower at 1.1593 dollars from 1.1597.
Trump says Iran war could be over soon but warns against oil disruption
US president Donald Trump said on Monday that the war against Iran may be short-lived, despite the country’s selection of a new hardline supreme leader to oversee the fight for the Islamic theocracy’s survival.
But moments later, Trump hinted during a news conference that the worst fighting could still be ahead as he threatened intensified action if Iran made any ‘attempt to stop the globe’s oil supply’.
The back-and-forth sent oil prices and stock markets see-sawing. But prices later fell and the US stock market closed higher after Trump told a group of politicians at his golf club near Miami that the conflict may end soon.
MPs vote to reject social media ban for under-16s
A ban on social media for under-16s has been rejected by MPs.
The age limit had been backed by peers earlier this year after growing calls from campaigners including actor Hugh Grant.
MPs voted 307 to 173, majority 134, against the proposed change to the Children’s Wellbeing and Schools Bill, which was brought forward by Conservative former minister Lord Nash. However, a ban could still come in future after the Commons supported a government bid to give additional powers to the Secretary of State.
Monday on Car Dealer
Here’s what our team are looking forward to the most at Car Dealer Live
Car Dealer Live takes place next week – but what are the team looking forward to the most at our big event?
VIDEO: Watch as we catch scamming used car dealer conmen in the act
A Car Dealer investigation has caught a sophisticated motor trade scammer in the act of attempting to dupe used car buyers out of cash.
Big Motoring World’s Laurence Vaughan accused of being ‘paid by two masters’ as ‘secret’ payment is revealed
Big Motoring World boss Laurence Vaughan received a ‘secret’ six figure payment direct from investors before going on to replace Peter Waddell as CEO, a court has heard.
South coast BYD dealership set for extensive refurbishment to make site ‘truly fit for purpose’
A south coast BYD dealership is to undergo a drastic restoration in a bid to bring the site ‘truly fit for purpose’.
Police launch investigation after suspected arson attack at used car dealership
Police have launched an investigation into a suspected arson attack which saw vehicles at a used car dealership go up in flames.
Weather
Mostly cloudy today with some early sunshine in the south-east, reports BBC Weather. Patchy rain will affect the north-west, with longer periods of rain reaching Northern Ireland by evening.
Tonight becomes wet and windy as heavy rain moves in from the west, though clearer skies will develop across England and Wales later tonight.
