U.S. nominal wages grew by 3% annually in September 2026, trailing the 3.7% inflation rate as real wages have declined year-over-year for six consecutive months through September 2026

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An October 2026 Moody's estimate found that surging fuel prices, airfares, and mortgage rates tied to the U.S. war on Iran, ongoing since February, cost each American household an average of $2,000

The national average price for a gallon of diesel fuel reached $6.3187 in October 2026, compared to an average price of $3.63 per gallon one year prior

U.S. President Donald Trump publicly blamed Ukrainian President Volodymyr Zelenskyy for rising global energy prices following Ukrainian drone strikes on Russian oil refineries

U.S. President Donald Trump posted on Truth Social in October 2026 that diesel fuel prices for Americans and the world would come down fast in record numbers

Average United States diesel prices rose to over $6 per gallon amid global supply restrictions and refinery disruptions.

The national average price of diesel surged to around $6.50 a gallon in September 2026, driven by geopolitical conflicts in Ukraine and Iran

Ken Paxton stated that diesel prices exceeding $6 per gallon are driving up food prices and causing voters to feel a financial pinch

At the Grand Island, Nebraska rally on October 5, 2026, President Donald Trump argued that rising prices of fuel and fertilizer caused by the seven-month war with Iran are a "small price to pay" for keeping the United States safe

Voters in the October 5, 2026, Reuters/Ipsos poll cited the cost of living as their top concern, driven by fuel-price inflation following the outbreak of the war with Iran that Trump launched in February

The war with Iran is the primary driver of elevated US inflation

Aides to British Prime Minister Andy Burnham privately blame US President Donald Trump's actions for economic headwinds that could raise UK energy bills, inflation, and interest rates.

U.S. inflation rose to 3.4% as of August 2026, driven by Donald Trump's 'Liberation Day' tariffs and energy crises from the Iran war, after having dipped to 2.4% in April 2025.

U.S. President Donald Trump stated that the Russia-Ukraine war and strikes on energy targets are the primary drivers of a global fuel shortage that has pushed U.S. diesel prices to record highs

In the United States, gasoline prices have surpassed $4 a gallon, fueling voter concerns over the cost of living ahead of the congressional midterm elections in November 2026

The ongoing war and the blockade of the Strait of Hormuz have driven global energy prices higher, with Brent crude trading at $92 a barrel on August 24, 2026

Moody's Analytics Chief Economist Mark Zandi estimated that the war with Iran has cost the average US household more than $1,200 in higher energy and grocery costs