UK Economy Slows as Iran Conflict Pushes Up Energy Prices

The UK economy grew slower, from 0.6% early in 2026 to 0.4% in the second quarter, the ONS said on 13 August. Oil and gas prices jumped after US strikes on Iran in February, stalling factories while services grew 0.5%. Household energy bills rose 13% in July. Prices are expected to keep climbing.