More than a third of British firms say they are facing higher shipping costs and delays of nearly a month due to Houthi attacks in the Red Sea, according to new research from the British Chambers of Commerce (BCC).

The Chambers warn that added costs may contribute to higher prices in the UK.

"Our research suggests that the longer the current situation persists, the more likely it is that the cost pressures will start to build," according to BCC's head of trade policy, William Bain.

More than 1,000 firms completed the BCC survey, with findings showing exporters, retailers, wholesalers and manufacturers were more likely than other firms to be feeling the impact.

The Chambers added that rerouting shipments to avoid the Red Sea were adding three to four weeks to delivery times, with the price for container hire increasing by up to 300%.

Following the start of the conflict in the Middle East in October, the Houthis said they have targeted ships linked to Israel, the UK and the US in support of Hamas.

The UK and US have responded in air strikes on Houthi targets in Yemen.

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