The Iran war has cost the average U.S. household the equivalent of almost $2,000, and the energy portion goes up $50 a week, top economist says
Source: Fortune ·
The tally includes $1,100 in higher energy prices, $540 in higher interest rates and $360 in military costs.
From the source
More than seven months into the U.S. war with Iran, sharply higher fuel prices are making it more expensive to drive and fly and adding to the cost of some goods, prolonging the strain on American households as the midterm elections approach. Motorists and airline passengers have borne the clearest consequences as the fighting disrupts Middle East oil shipments. Some companies have raised delivery charges or prices on selected products. Yet the higher cost of making and moving goods has not translated into across-the-board price increases at stores. Shoppers may not be spared indefinitely, though. Many companies have absorbed at least part of their higher production and transportation costs. A September jump in wholesale prices suggests some businesses may eventually charge more if fuel prices stay elevated. The chief economist at Moody’s Analytics, Mark Zandi, estimated this week that the war has cost the average U.S. household the equivalent of almost $2,000, including $1,100 in…