The war in Iran cost every US family 2 thousand dollars: Moody's estimates

The impact of the war on fuel prices

The conflict, which began in late February, has cost American consumers $265 billion nationwide, Moody's estimates. Zandi pointed to energy prices as the main driver of rising costs. A gallon of gasoline costs $4.37, up from $2.98 before the conflict. The average cost of diesel "is hovering above 6 dollars and jet fuel has almost doubled. "Overall, it is a figure close to 1,100 dollars per family, paid both at the distributor and through the higher cost of everything transported by road or air", wrote Zandi again. With the approach of winter, then, "the decidedly higher cost of fuel for home heating is also causing costs to rise".

The impact of rates and military spending

Zandi's calculations also take into account the Federal Reserve's decision to raise interest rates. Rates on fixed-rate mortgages have risen from a pre-war threshold of less than 6% to around 7.5% today. “By our estimates, the rate increase cost the economy about $540 per household,” he wrote. The cost of military operations amounts to about $360 per family, according to Zandi's calculations.

The cost of war

In early May, during a House Appropriations Committee hearing, the Pentagon's acting chief financial officer, Jules Hurst III, told lawmakers that the cost of the conflict was approaching $29 billion. At the end of June, the American Enterprise Institute, a conservative think tank, estimated the cost of the operations at 38.6 billion dollars. The Center for Strategic and International Studies, in a report at the end of June, quantified the expenditure at around 40 billion. In June, the White House requested $87 billion in additional funds to help cover the costs of replenishing supplies and deploying troops to the U.S. Central Command (Centcom) area of responsibility. The measure is likely to need Democratic votes to pass the Senate.