The ongoing conflict between the US and Israel following actions against Iran has triggered a rise in oil and gas prices, significantly impacting everyday costs across the United States. This surge is already affecting mortgage rates, reversing recent improvements in housing affordability. Perishable goods such as dairy, fruits, vegetables, and fish are expected to see price increases first, followed by airfares. If high fuel prices persist, transportation costs for a wide range of products could lead to broader inflation across grocery shelves and other consumer goods.
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