The U.S. war against Iran has cost about $38 billion over roughly the first five to six months of fighting, according to a Congressional Budget Office (CBO) assessment released Tuesday. The CBO projects the cost will rise by about $3 billion per month going forward, depending on conflict intensity, as the Trump administration seeks ways to end the fighting and reopen the Strait of Hormuz.

The CBO accounting also forecasts economic spillovers. It expects the war to increase inflation by about 0.5 percentage points in the first months of 2027, reflecting higher prices and budgetary pressures tied to sustained defense spending. Multiple outlets report that the spending has strained U.S. munitions stockpiles, including missile interceptors, and has contributed to higher energy prices.

Some outlets reference alternative higher figures. One report cites a Pentagon estimate of $45.1 billion, which it says surpasses the CBO’s $38 billion figure through Aug. 1. Other coverage focuses on weapons depletion and the monthly cost projection, but the central CBO numbers—$38 billion to date and roughly $3 billion per month—are consistent across most reports.