CBO Report Reveals US War on Iran Fuels Inflation and Drains Military Stockpiles

A recent nonpartisan Congressional Budget Office (CBO) report has revealed that the US war on Iran is worsening inflation and severely straining the nation's munitions stockpiles. Released on Tuesday, the report highlights that the six-month conflict has already cost $38bn, with expenditures expected to increase by $3bn each month.

Furthermore, the war is projected to drive up inflation by 0.5 percentage points in the early months of 2027. Brendan Boyle, a leading Democrat on the US House of Representatives Budget Committee who requested the study, emphasized both the human toll and the heavy financial burden placed on American taxpayers.

Launched by the US and Israel in February, the unpopular war has triggered disruptions in the global energy market and added to cost-of-living concerns ahead of the November midterm elections. While Secretary of Defense Pete Hegseth previously placed the war's cost at $37.5bn during congressional testimony in July, the CBO report also warns that replenishing depleted US munitions supplies could take up to five years.