Anna Helhoski

They're all made from petrochemicals.

Then what about electronics?

Yeah, electronics and tech products could also see price increases because supply chains for materials used in batteries, semiconductors, and fiber optics can be disrupted.

So things that might get more expensive are smartphones, laptops, EVs, but also energy storage systems and diagnostic medical equipment like MRI machines.

Yeah, that could change.

Cars are affected by everything all at once.

Plastics, aluminum, shipping costs, and the global supply chains, of course.

If production slows or materials get expensive, both new and used car prices could rise.

Yeah, aluminum is key for constructing buildings, cars, airplanes, appliances, and some everyday uses.

So this war essentially touches almost everything people buy.

You've got it.

The important thing to understand is that these price increases don't happen overnight.

The timeline usually happens in stages.

So first, energy prices go up, then shipping costs, then consumer goods, and eventually some services.

I spoke with an economist who told me it's likely to take around six to 12 months to start showing up beyond gas prices and air travel.

Well, how much could inflation rise then?

It's really hard to say, but a recent report by the Organization for Economic Cooperation and Development, or OECD, projected that the war in Iran could cause inflation to average around 4.2% in 2026.

Now, for context, inflation has stayed roughly between 2.3% and 3% over the last year.

Yeah, that's the saying.

Now, I'm no geopolitical expert.