Iran War: Middle East tensions impacting American consumers

ASU economist shares the effects of oil prices rising rapidly, which could have devastating consequences for the economy in terms of increasing inflation.

In this interview aired April 13, 2026, on FOX 10 Phoenix:

It will affect us. The oil price today is hovering at about $100 a barrel. This is taking our inflation to about 3.3%. In the worst-case scenario, if oil prices hit $130 and stay there, we are looking at 5% inflation.

— Hitendra Chaturvedi, supply chain management professor of practice, NASPO Department of Supply Chain Management