The UK could face some food shortages by the summer under a worst case scenario drawn up by government officials.
The economy saw its biggest monthly rise in more than two years just before the outbreak of the US-Israeli war with Iran.
The rate of UK economic growth affects things like pay increases and the amount of tax raised.
Bank of England governor says the Iran war energy shock makes the next interest rate decision "very, very difficult".
The chancellor's criticism follows a report that the conflict will hit the UK harder than other big economies.
The boss of a Hereford firm says his company is currently spending about £250,000 a year on energy.
A subdued economy makes trade-offs and choices over public spending more difficult, Chris Mason writes.
The financial body cuts its growth forecast for the UK and warns the war threatens to throw the global economy "off course".
The conflict in the Middle East has increased pressure on the cost of petrol, household energy bills and even food.
