The ongoing war in Iran is expected to impact not only oil and fuel prices but also the prices of food and airline tickets, according to economic researchers. Senior researcher Ville Kaitila from the Research Institute of the Finnish Economy points out that the rising costs of natural gas used for fertilizer will have a widespread effect on food prices. Furthermore, Markus Lahtinen, CEO of Pellervo Economic Research, estimates that elevated transportation costs will gradually affect nearly all products in the market.

The initial impacts of the Iran war can be seen in the rising prices of oil and fuel; however, the scope of these increases could extend to food expenses as gas from the Middle East is vital for fertilizer production. An increase in nitrogen fertilizer prices will ultimately affect crop growth on farms, leading to higher food retail prices. While the effects might be delayed, researchers suggest that the time frame for noticeable changes is not overly long, indicating a looming consequence for consumers.

As prices continue to rise, central banks may consider increasing interest rates, which would have ramifications for loan and housing markets. This potential shift underscores the interconnectedness of global events and local economies, highlighting how international conflicts can directly affect domestic financial conditions. The situation serves as a reminder of the volatility in food prices and the broader economic implications stemming from geopolitical tensions.