Iran war has cost the U.S. more than $38 billion so far, budget office says
Summary
The U.S. Department of Defense has spent more than $38 billion on the war against Iran as of August 1. The war is expected to continue costing up to $3 billion a month and may cause inflation to rise until early 2027 due to disrupted oil and shipping routes.Key Facts
- The U.S. war against Iran has cost over $38 billion so far.
- Monthly costs could be $3 billion or higher depending on how intense the fighting is.
- The war affects oil and natural gas shipments through the Strait of Hormuz.
- Shipping disruptions through the Red Sea also contribute to higher costs.
- Inflation is expected to be about 0.5 percentage points higher into early 2027 because of the war.
- This estimate came from the nonpartisan Congressional Budget Office (CBO).
- Defense Secretary Pete Hegseth previously estimated the cost to be $37.5 billion.
- The CBO assessment was made after a request by Representative Brendan Boyle, a Democrat.
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