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Columbia Business School’s Professor Brett House spoke with CNBC about how the war in Iran is affecting affordability for consumers across the U.S. House explained that rising oil prices driven by the conflict are increasing the cost of gasoline, transportation, and everyday goods, which in turn adds to inflationary pressures. His insights highlight how geopolitical disruptions in energy markets can quickly translate into higher living costs and strain household budgets. Rising fuel costs are already feeding into broader price increases across the economy, underscoring the link between global events and domestic affordability challenges.
