Iran war likely to drive up inflation next year, CBO says
The U.S. war against Iran is likely to drive up inflation early next year and could cost at least $2 billion a month as long as it continues, according to a new report from the nonpartisan Congressional Budget Office (CBO). The CBO estimated in its Tuesday report that the main economic impact of the conflict...
A US war against Iran is likely to drive up inflation early next year. The Congressional Budget Office (CBO) estimates that the conflict could cost at least $2 billion a month. According to The Hill, this is the main economic impact of the conflict as per the CBO's report.
The CBO also assessed that the war with Iran has cost the US at least $38 billion through the end of July, as reported by ABC News (US). The agency warns that depleted weapon stocks could take a half decade or longer to rebuild, which could cripple the Pentagon's ability to respond to another major conflict.
The CBO's report relied heavily on public information, as the Pentagon did not cooperate with the analysis or provide information requested by the Congressional Budget Office, ABC News (US) noted. The report's findings highlight the financial and military consequences that will persist beyond the fighting, including pressure on household budgets due to skyrocketing energy prices.
Brief written by urgent.news from The Hill, ABC News (US) — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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