Iran war has cost US $29bn so far, White House reveals

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The figure was revealed during a congressional hearing on Tuesday, as defence secretary Pete Hegseth faced questions over the cost of the war in Iran, alongside Joint Chiefs of Staff chairman General Dan Caine and Jules Hurst, the under secretary of war and chief financial officer.

Asked how much the conflict had cost the US so far, Hurst said the total had now reached $29bn (£21.45bn).

Of that, $24bn (£17.75bn) has been spent on material, including munitions, weapons and missiles.

Hurst said the revised figure reflected updated estimates for repairs, equipment replacement and operational costs.

“The joint staff team and the comptroller team are constantly looking at that estimate,” he said.

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The Pentagon said on 29 April that the war had cost $25bn, meaning the total has risen by $4bn in less than two weeks.

The rising cost of the conflict is being felt acutely by US consumers.

Prices rose in April at their fastest annual rate since May 2023, as the impact of the war in Iran filters through to households.

Higher petrol and grocery prices pushed the consumer price index (CPI) to 3.8% over the 12 months to April — the highest level since inflation reached 4% three years ago.

The Bureau of Labor Statistics said almost half the increase was driven by surging energy costs, while housing and food also added to the pressure.

The US-Israel war in Iran, and the effective closure of the crucial Strait of Hormuz shipping lane, has sent oil prices sharply higher — driving up petrol prices across the US.