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CBO estimates Iran war costs at $38.1B, warning of future inflation impact

Projections indicate ongoing military operations will cost up to $3 billion monthly despite white house denials of weapons shortages.

Updated Sep 15, 2026 · 20:56 UTC2 reports

The short version

  • The Congressional Budget Office estimates that the war with Iran cost $38.1 billion through August 1 and continues to cost $2 billion to $3 billion per month.[The Washington Sun]
  • The CBO projects the conflict will add roughly half a percentage point to consumer inflation in early 2027.[The Washington Sun]
  • President Donald Trump and Defense Secretary Pete Hegseth have denied reports of weapons shortages, asserting that munitions supplies remain sufficient.[The Washington Sun · CBS News]
  • The CBO noted considerable uncertainty in its estimates because the Department of Defense did not respond to information requests.[The Washington Sun]

Key facts

  • The war with Iran directly cost the United States $38.1 billion through August 1.[The Washington Sun · CBS News]
  • Ongoing costs for the conflict are estimated at $2 billion to $3 billion each month.[The Washington Sun · CBS News]
  • The CBO projects the war will add about half a percentage point to inflation in the first quarter of 2027.[The Washington Sun]
  • President Donald Trump and Defense Secretary Pete Hegseth denied reports of munitions shortages.[The Washington Sun · CBS News]

What remains uncertain

  • The CBO stated its estimates carry considerable uncertainty because the Pentagon did not respond to requests for information.[The Washington Sun]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.