Reuters, citing calculations from the U.S. Congressional Budget Office, reported that the six-month war against Iran has cost the United States $38 billion so far, and that figure will increase by about $3 billion per month.

According to the report, the costs were calculated through August 1, and the war is expected to raise the United States inflation rate by 0.5% in the first three months of 2027.

The Congressional Budget Office said that most of the costs stem from the rapid consumption of munitions, and that rebuilding weapons stockpiles may take five years. Reuters had previously reported that the United States has “almost all” exhausted its precise long-range missiles.

This cost estimate does not include the costs of attacks on ships in the Strait of Hormuz in recent months, attacks on U.S. military facilities, or the cost of borrowing to finance the war.

Pete Hegseth, the U.S. defense secretary, had previously called for nearly $90 billion in emergency funding to rebuild munitions stockpiles.

The review was carried out at the request of Brendan Boyle, a Democratic lawmaker. He said that the war has cost American taxpayers tens of billions of dollars so far.