Sir Keir Starmer is to chair a COBRA meeting on Monday morning, Sky News understands.
Ministers and officials will discuss the cost-of-living impacts of the ongoing Iran war and plans to help households.
COBRA meetings are the government’s regular way to respond to a national emergency.
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The prime minister last chaired a COBRA meeting on Thursday to discuss the UK’s response to Iranian strikes on energy infrastructure in the Gulf.
He also chaired a meeting in late February to discuss the initial US-Israeli strikes on Iran.
It comes as the war threatens to push up energy costs and inflation.
Leading forecaster Cornwall Insight has predicted Ofgem’s July energy price cap will rise from £1,807 to £1,973 a year for an average household.
That’s a rise of £332 from April’s cap of £1,641.
The Iran war has seen global oil and gas prices rise rapidly, as the Strait of Hormuz in the Gulf has been effectively closed by the threat of Iranian strikes.
Around 20% of the world’s oil and liquefied natural gas supplies typically pass through the Strait.
Meanwhile, economists are predicting inflation could rise to as high as 5% this year – it was previously expected to fall back to the 2% target before the war.
Interest rates could also increase.
‘No need to ration fuel’, cabinet minister tells Sky News
Speaking to Sky News on Sunday, Housing Secretary Steve Reed rejected suggestions the UK would run out of fuel amid the ongoing conflict.
“There’s no need to ration fuel,” Mr Reed told Sunday Morning with Trevor Phillips.
Mr Reed added that while “there’s always a…
