Analysis from financial comparison site Moneyfacts showed 13 major lenders have put up borrowing costs as renewed fighting in the Middle East stokes inflation fears.

The International Monetary Fund published a new report on the UK as Mr Burnham prepares to take the reins as the country’s new prime minister.

Analysis from financial comparison site Moneyfacts showed 13 major lenders have put up borrowing costs as renewed fighting in the Middle East stokes inflation fears.

Inflation is expected to have eased last month in a welcome but temporary boost for Andy Burnham’s incoming government.

Mortgage rates are creeping up as the resumption of hostilities between the US and Iran sends fresh shocks through the global economy just as Andy Burnham takes office.