Reuters reported that the Pentagon's latest estimate of the Iran war's cost has exceeded $47 billion, more than 25% above the $37.5 billion figure cited by Defense Secretary Pete Hegseth in July.
The estimate includes major replacement costs.
More than $29 billion is projected to be required to replenish munitions used during the conflict.
Another $6 billion-plus would be needed to replace lost military equipment, including aircraft and drones.
The total covers operational expenses such as air missions and military support, but may not fully account for the cost of repairing American bases damaged by Iranian attacks.
The figures have not been publicly released by the Pentagon, and Reuters obtained them from internal defense data.
President Trump launched the military campaign alongside Israel in February, initially anticipating a relatively short conflict.
Eight months later, the United States continues maintaining a naval blockade of Iran, while the administration considers renewed strikes.
The conflict has also disrupted energy shipments from the Persian Gulf, pushing up oil prices and increasing inflation concerns ahead of the November 3 midterms.
The bottom line: The war's financial consequences extend beyond military spending. Higher oil prices, inflation pressure, and continued geopolitical uncertainty are creating additional economic challenges. With costs already exceeding $47 billion and the possibility of further military operations unresolved, the ultimate price of the conflict remains uncertain.