Iran Conflict Pushes U.S. Inflation Higher, CBO Finds
TL;DR
A Congressional Budget Office report says the Iran war is driving more than a third of this year’s inflation and is likely to push prices up further into early 2027, with borrowing costs rising as the Fed tightens. Gasoline has jumped about 45% to $4.32 a gallon and diesel about 66% to $6.26, while the 30-year mortgage rate has climbed to roughly 7.22%. The Pentagon faces multibillion-dollar costs to replace munitions and repair damage, with estimates around $21.7 billion to replace expended munitions and about $38 billion in damage cost noted; maintaining the conflict could require $2–3 billion per month, depending on escalation.}
- Iran war driving up inflation for Americans, CBO report says NBC News
- Iran war has cost $38 billion, depleted two-thirds of US missile interceptors, CBO says militarytimes.com
- Missile shortages, damage to US facilities: Pentagon watchdog issues first review of Iran war CNN
- Iranian strikes have damaged hundreds of structures at U.S. bases, watchdog says The Washington Post
- Iran war likely to drive up inflation next year, CBO says The Hill
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