IT might be thousands of miles away, but the Iran war is hitting YOUR pocket, with price hikes appearing across the board.
And it is not just petrol, which has risen to a staggering 160p, that is rocketing as imports struggle to get out from the Middle East.
With oil prices surging past 100 dollars a barrel, many products are set to become more expensive to make.
Thea Jacobs takes a look at the groceries, electronic goods and other items which are getting more costly because of the conflict.
SONY PLAYSTATION
SINCE last week, the price of Sony’s PlayStation 5 has risen by £90, with the tech company citing “continued pressures in the global economic landscape”.
It means the games console is 19 per cent more expensive than it was just a week ago.
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The company is also increasing the price of its PS5 Digital Edition, the PS5 Pro and the handheld PlayStation Portal.
The Iran conflict is causing the cost of memory chips to increase, and combined with the rise of AI – which has also caused a rise in demand for chips – it is the perfect storm.
TINNED TUNA AND BEANS
THE war is also affecting tinned foods, including Princes tinned tuna and Branston baked beans, both produced by the same company.
Princes said it will likely raise prices by five per cent to recoup costs from logistical pressures and soaring fuel prices.
So instead of paying £4.25 for a four-pack in Sainsbury’s, it’ll be £4.46.
The increase will also cover any own-brand products they produce.
FLOWERS
THE price of a bouquet of flowers is likely to grow in the UK, no matter if they are produced here at home or abroad.
Online florist Bloom & Wild has warned the Iran war will push costs up, citing the price of energy and irrigation rising in order to grow their blooms.
BOTTLED WATER
ANYONE buying bottled water or other drinks in plastic bottles will see the price rise, as makers are struggling to get hold of the oil needed to make the plastic.
The Iran war is limiting oil supply and causing issues with trade routes.
CLEANING PRODUCTS
KEEPING your house spotless is about to get more expensive as the McBride group, maker of Oven Pride and Actiff, among others, has announced it will be raising its prices.
The hike will be temporary to cover the Iran war, which has made it difficult to source chemicals and packaging ingredients for their products.
The company has yet to confirm how much more expensive cleaning is going to get.
FRUIT AND VEGETABLES
EXPERTS are warning that the cost of fruit and veg could rise by nine per cent if the war continues.
The Soil Association says that UK farming is “dangerously vulnerable” to external influences, as we import 80 per cent of our fruit and more than half of our veg.
The price of green beans, imported from Kenya, and asparagus, which comes from Peru, is expected to rise first, followed by tomatoes, peppers and cucumbers.
PARTY BALLOONS
BUYING helium or helium-filled balloons is expected to get more expensive as more than a third of the world’s supply comes from Qatar, which is being targeted by Iranian drone strikes.
One strike damaged a natural gas plant, QatarEnergy, which will need five years to be fully repaired.
Paused production has led to prices almost doubling since February.
And, of course, much of the helium that is manufactured would normally be shipped through the Strait of Hormuz, which Iran has closed.
FUNERALS
THE price of cremating a loved one has risen since January, with industry insiders blaming the Iran war.
Pure Cremation reports prices for funerals jumping by 1.3 per cent since the start of the conflict.
The war has pushed up the cost of gas, which is used in cremations, making them more expensive.
The study said the cost for cremation had risen faster than a burial, which was “likely linked to the rising cost of fuel as a result of the Iran war”.
According to the survey of 270 funeral providers, a classic cremation now costs £4,623, a £61 increase since January this year.
TEA AND COFFEE
WHETHER it’s tea or coffee, a nice cuppa is a British institution.
But the price of both looks set to rise as the conflict rages on.
The crisis is hitting agriculture and preventing access to fertilisers and transportation.
This means tea and coffee will be more expensive to grow and export globally.
MOBILE PHONES
THE helium shortage will also hit mobile phones, as the gas plays a vital part in making the chips that power our devices.
Last year, 17 per cent of the world’s helium supply was used in manufacturing semiconductors (the bit that makes phones work).
It’s a vital part in the process called “rapid cooling”, and there is no substitute for helium.
It’s likely that this rising cost of manufacturing will be passed on to consumers.