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Economy, business and finance
Iran war increasing inflation, straining US munitions: congressional report
Report by nonpartisan research body finds that replenishing depleted munitions stockpiles could take up to five years.
The US war on Iran is worsening inflation and straining the country’s munitions stockpiles, a report from the nonpartisan Congressional Budget Office (CBO) has found.
The report, released on Tuesday, found that the cost of the six-month war has reached $38bn and is expected to rise by $3bn per month. The war is projected to increase inflation by 0.5 percentage points in the first three months of 2027.