Monthly GDP figure comes as higher energy prices look likely to drive up inflation, dashing hopes of interest rate cut

• Business live – latest updates

• Analysis: Bleak data shows UK plc in trouble well before Iran war

The UK economy unexpectedly flatlined in January, stoking concerns over growth amid the global energy price shock triggered by the US-Israel war on Iran.

Figures from the Office for National Statistics (ONS) showed 0% growth in gross domestic product (GDP), down from an increase of 0.1% in December, as the economy failed to recover from uncertainty surrounding the chancellor Rachel Reeves’s autumn budget.

Monthly GDP figure comes as higher energy prices look likely to drive up inflation, dashing hopes of interest rate cut

• Business live – latest updates

• Analysis: Bleak data shows UK plc in trouble well before Iran war

The UK economy unexpectedly flatlined in January, stoking concerns over growth amid the global energy price shock triggered by the US-Israel war on Iran.

Figures from the Office for National Statistics (ONS) showed 0% growth in gross domestic product (GDP), down from an increase of 0.1% in December, as the economy failed to recover from uncertainty surrounding the chancellor Rachel Reeves’s autumn budget.

Monthly GDP figure comes as higher energy prices look likely to drive up inflation, dashing hopes of interest rate cut

• Business live – latest updates

• Analysis: Bleak data shows UK plc in trouble well before Iran war

The UK economy unexpectedly flatlined in January, stoking concerns over growth amid the global energy price shock triggered by the US-Israel war on Iran.

Figures from the Office for National Statistics (ONS) showed 0% growth in gross domestic product (GDP), down from an increase of 0.1% in December, as the economy failed to recover from uncertainty surrounding the chancellor Rachel Reeves’s autumn budget.