Iran war cost US $38bn and significantly depleted missile stockpile, report finds

The Congressional Budget Office (CBO) has released a non-partisan report estimating that the war in Iran has cost the US at least $38 billion, with the expenditure potentially rising by $3 billion each month. The report adds that the war has significantly depleted the US missile stockpile, with the stockpile requiring up to five years to fully rebuild.

The report's findings come less than two months before the midterm elections, where the economic strain of the war and the ongoing cost-of-living crisis are expected to negatively impact Republican candidates. The report follows the Pentagon's inspector general's review, which found the US spent $22.3 billion on munitions alone as of 30 June, with the total spending estimated at $33.4 billion.

The report also highlighted strategic inventory shortfalls and bottlenecks in the industrial base for munitions resupply.

Brief written by urgent.news from The Guardian US's own syndicated text. Machine-written — may contain errors; check the original before relying on it.