U.S. war budget office says Iran conflict cost over $38‑$48 billion

The United States’ military involvement in the war with Iran has incurred costs of roughly $38 billion as of August 1, 2026, according to a recent report from the nonpartisan Congressional Budget Office. Some estimates describe the total as exceeding $38 billion, reflecting the ongoing nature of the conflict and the difficulty of pinning down an exact figure.

The bulk of the expense has been tied to replacing expended munitions and equipment lost in combat, as well as higher fuel consumption for operations. Replacements for munitions alone are estimated at about $21.7 billion, making it the single largest component of the defense department’s outlays for the war.

Monthly spending on the conflict is projected to range between $2 billion and $3 billion, with the potential for higher costs if the intensity of hostilities escalates. These recurring expenditures add to the cumulative financial burden already recorded.

A significant “opportunity cost” identified in the analysis is the depletion of the United States’ missile‑defense interceptor inventory. The number of interceptors used in the conflict suggests a reduction in the stockpile that could affect the department’s defensive capabilities for several years.

Because the war continues, analysts warn that the total cost could rise further each month, potentially adding billions of dollars to the current estimate as the United States sustains its military operations and replaces additional assets.