The Iran war is pushing up gas, grocery, and mortgage costs while Trump opens a new tariff fight with Europe — bad for household budgets and for anyone with a mortgage.

• Trump is threatening new tariffs on the EU, accusing Europe of "robbing" US tech companies through its consumer-protection fines.
• The Iran war has added around $1,400 in extra costs per household — mostly from higher gas, food, and transport.
• Mortgage rates jumped back above 6.5% because the war pushed up oil and bond yields, adding hundreds a month to new home loans.
• Inflation risk is now seen as the bigger worry than jobs, so interest rates are not expected to fall while the war drags on.
• The US is short on missiles and munitions after months of fighting, and is now leaning on the UK and France for help.

Outlook: With no end to the Iran war in sight and tariffs expanding, prices and inflation pressure are likely to keep climbing near-term.