US prices are jumping because of the Iran war, and ordinary people are getting squeezed harder every month.

• Wholesale prices rose at the fastest pace in four years, driven by the Iran conflict, and businesses will pass those costs to shoppers.
• Consumer prices also climbed at the fastest pace in nearly three years, with energy leading the jump.
• Gas is over $6 a gallon in parts of California and diesel is near its all-time high, with most of the war's price impact still to come.
• Credit card and mortgage late payments keep climbing as people borrow just to cover bills.
• The US wheat harvest will be the smallest since 1972 due to drought, meaning higher food prices and likely famine in poor countries.

Outlook: Prices will keep rising as war costs filter through fuel, food, and travel, and next year's harvest will be hit again by expensive fertilizer.