💨 Abstract

Israeli attack on Iran escalates regional tensions, potentially leading to higher prices for businesses and households. Oil and gold prices surged, along with the dollar, as markets sought safety. The conflict could disrupt oil supplies from Iran, affecting global energy prices and shipping costs. Higher energy prices could increase the cost of various products. Consumers might face higher prices for gas, food, and other essentials, potentially leading to interest rate hikes by the Federal Reserve.

Courtesy: WTOP Staff