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Iran War Has Cost Each U.S. Household Nearly $2,000, Moody's Estimates
Moody's Analytics estimates the Iran war has cost each U.S. household nearly $2,000.
Key points
- About $1,100 of the per-household cost comes from higher energy and transportation costs.
- Zandi wrote on X on Oct. 12 that the nationwide cost totals $265 billion.
- The U.S. military has spent more than $47 billion on the war, according to Pentagon data cited by Reuters.
Why it matters. Energy and heating costs could stay high into winter, as Metcalf warns that increased military activity heightens the risk of retaliation that adversely affects markets.
Mark Zandi, chief economist at Moody's Analytics, estimates the Iran war has cost the average American household nearly $2,000, with about $1,100 of that from higher energy and transportation costs. Zandi wrote on X on Oct. 12 that the nationwide total is $265 billion, with higher interest rates and military spending making up the rest. Reuters reported on Oct. 27, citing Pentagon data, that the U.S. military has spent more than $47 billion on the war.
Latest updates
Iran War Has Cost Each U.S. Household Nearly $2,000, Moody's Estimates
Pentagon data puts the cost of U.S. operations related to the war with Iran above $47 billion. Moody's estimates that American households have paid nearly $2,000 each. On October 8, President Donald Trump said on Truth Social that the U.S. would not attack Iran before the midterm elections on November 3. On November 2, the day before the vote, U.S. forces struck Qeshm Island in Iran. U.S. officials told CNN the strike was a defensive response to Iranian actions. Fortune reports that oil prices' post-election drop may not last, and that further strikes could increase costs.