{"id":708288,"date":"2026-06-16T22:20:11","date_gmt":"2026-06-16T22:20:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/708288\/"},"modified":"2026-06-16T22:20:11","modified_gmt":"2026-06-16T22:20:11","slug":"inflation-from-iran-war-likely-to-keep-consumer-prices-high-even-after-conflict-eases","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/708288\/","title":{"rendered":"Inflation from Iran war likely to keep consumer prices high even after conflict eases"},"content":{"rendered":"

A tentative deal<\/a> to end the Iran war makes it reasonable to ask how soon prices will drop for gasoline, groceries, airline tickets and other items that got more expensive during the conflict.<\/p>\n

Not so fast, experts say.<\/p>\n

Even after oil starts flowing again from the Middle East, it could take awhile for consumers<\/a> to see a difference at local fuel pumps, supermarkets and other places they shop, according to economists and industry analysts.<\/p>\n

Fighting over the Strait of Hormuz<\/a> disrupted not only supplies of crude and refined fuel but also the supply chains for fertilizer, food and even footwear. Businesses expect higher costs to linger, which means their customers might need to prepare for that too.<\/p>\n

\u201cIt is not clear, despite three months of war, that anything has been achieved that makes the American consumer better off,\u201d Brett House, an economist who teaches at Columbia Business School, said. \u201cIn fact, by almost any measure, not just the American consumer, but the world, is worse off as a result of this attack.\u201d<\/p>\n

If the deal between the U.S. and Iran holds, here\u2019s how experts see the war\u2019s effects receding \u2014 or not \u2014 in the weeks ahead:<\/p>\n

Following news<\/a> of the tentative agreement, oil prices fell Monday to about $80<\/a> for a barrel of U.S. benchmark crude. That compares to $67 per barrel before the war and the price of over $120 a barrel reached earlier in the conflict.<\/p>\n

Refineries typically pay for crude oil a month or more in advance, so even after oil prices drop, they won\u2019t immediately<\/a> be processing cheaper products.<\/p>\n

The Associated Press has the full story.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"A tentative deal to end the Iran war makes it reasonable to ask how soon prices will drop…\n","protected":false},"author":2,"featured_media":666383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-708288","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/708288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=708288"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/708288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/666383"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=708288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=708288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=708288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}