Strait of Hormuz: How the Closure Impacts Gas, Food Prices and Mortgages

Image Source: Shutterstock.  Map if Iran showing Strait of Hormuz and Middle East. 

Key Takeaways: 

• Inflation is predicted to rise to 3.5-four percent by mid-year.
• Food prices are expected to rise within 60 days.
• Mortgage rates rose from 5.98 percent before the war to 6.11 percent last week.
• Gas prices have risen 71 cents per gallon since the attack on Iran began.