Here’s something no American wants to hear: Prices are surging again, and uncomfortably high inflation could be with us for quite some time.

The Iran war has pushed up gasoline, airline fares and other prices for consumers.

The Iran war weighed heavily on the minds of consumers last month when they were asked about their expectations for the economy, a new University of Michigan study found.

The reading, the first major inflation report since the Iran war began, came in at its hottest level in two years.

Learn about purchasing power, its effect on currency value, and how inflation influences what one unit of money can buy. Understand its significance for investors.

California handed out billions to residents four years ago to help them deal with rising prices. Over 5 million still have money that they can access.

The inflation data covers the period before the war the U.S. and Israel launched against Iran, so it doesn't reflect the massive surge in energy prices that took effect during the conflict. Oil prices at one point climbed over $100 a barrel while prices at the pump surged by more than $1 a gallon.

Forecasters in the Journal’s survey see hits to GDP, inflation and the job market from the conflict with Iran.