3 ways the Iran war is hitting Americans' pocketbooks [CBS News]
NerdWallet, Inc. - Class A (NRDS)
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Source: CBS News
"The impact is really widespread and affects everything from mortgage rates to travel to grocery prices and on down the line," Matt Schulz, chief consumer finance analyst at LendingTree, told CBS News. Things were already challenging for a lot of Americans on pretty tight budgets, and this certainly doesn't help." A swift end to the war — specifically, reopening the Strait of Hormuz to facilitate oil flows and other ship traffic traversing the Persian Gulf — could help soften the blow for U.S. consumers. But experts told CBS News prices would not recede immediately, an unexpected financial strain for the millions of Americans still recovering from the inflationary blast that followed the pandemic. "Many parts of the economy are just starting to really feel the effects of some of these added costs," said Kate Wood, a lending expert at NerdWallet. Here are three ways the Iran war is hitting U.S. households. Travel and transportation The average price of gas in the U.S. rose
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