From Washington: The conflict with Iran has resulted in significant costs for the Department of Defense, exceeding $38 billion as of August 1. Ongoing expenses are expected to range from $3 billion to more per month, depending on the conflict's intensity.

The nonpartisan Congressional Budget Office released an assessment of these costs, which also notes the war's impact on inflation. Disruptions to oil and natural gas shipments are driving this effect, with inflation expected to be roughly 0.5 percentage points higher than previously estimated through the first quarter of 2027.

Further details on the assessment and its findings are available from the Congressional Budget Office.