Analysis of BLS Consumer Expenditure Survey data from 2000–2024 shows that the bottom 50% of U.S. households have little income remaining after essential expenses, with projections through 2026 based on inflation trends. The data reveals significant limitations including underreporting of income and spending, with Federal Reserve findings corroborating that over one-third of adults lack emergency savings.
An economist estimates that the Iran war has cost U.S. households an average of $860 each through higher energy prices, totaling over $100 billion nationally. The impact has been severe for lower- and middle-income households, while wealthier Americans have weathered the increases better. Oil supply constraints through the Strait of Hormuz persist, and energy prices are unlikely to return to pre-war levels soon.