Iran war costs American households $1,000 each, Moody's economist estimates
By
Mary Cunningham
Summary
Moody's Analytics chief economist Mark Zandi estimates that the Iran war has cost American households roughly $1,000 each in higher fuel, food, and other expenses since the conflict began in February. The analysis comes as government data shows inflation hit a three-year high in May, with the war significantly driving up costs of fuel, airfare, and other U.S. goods.
Source
bskyIran war costs American households $1,000 each, Moody's economist estimatescbsnews.comKey quotes
· 3 pulledThe Iran war has cost Americans roughly $1,000 per household in higher fuel, food and other expenses since the start of the conflict in February.
Inflation in May hit its highest level in three years.
The Iran war has significantly driven up the cost of fuel, airfare and other U.S. goods.
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