A report released Tuesday by the Congressional Budget Office (CBO) indicates that the ongoing military conflict between the United States and Iran has reached a total cost of $38 billion. This figure accounts for expenditures incurred through August 1. According to the nonpartisan agency, the financial burden of the operation is expected to persist, with costs projected to increase by approximately $3 billion each month.

Beyond direct military spending, the CBO analysis suggests broader economic consequences. The report forecasts that the conflict will contribute to a 0.5 percent increase in inflation during the first quarter of 2027. These findings emerge as the Trump administration continues to evaluate strategies to conclude the hostilities and restore transit through the Strait of Hormuz, a critical maritime chokepoint for global energy supplies.

The CBO report serves as a primary reference for lawmakers assessing the fiscal impact of the administration's foreign policy decisions. While the report provides a clear accounting of the funds spent to date and future projections, it does not detail specific military strategies or the diplomatic efforts currently underway to resolve the situation. The data highlights the intersection of military engagement and domestic economic stability, as inflation remains a central concern for policymakers monitoring the war's duration.