Iran Conflict Triggers Inflation Push as Gas and Mortgage Rates Climb

The Iran war and new U.S. tariffs are lifting energy prices and fueling inflation concerns: gas averages around $4.10 per gallon as Brent crude tops $100, while 30-year mortgage rates rise toward about 6.85% and 10-year yields approach 4.7%, increasing household costs. Moody’s Analytics estimates the typical American spends roughly $1,200 more due to higher gas, groceries, and transportation costs plus higher debt service; meanwhile, disruptions in Hormuz and dwindling oil stockpiles complicate the outlook and policymakers weigh rate and tariff actions.