PNN – Economic experts warned that there will be no immediate relief in consumer prices in the United States after the initial agreement with Iran, as food, transportation and energy costs remain high.
According to the report of Pakistan News Network, the British newspaper Independent examined the economic impact of the signing of the nuclear agreement with Iran on American markets in a report, writing that Americans should not expect an immediate opening and a reduction in the prices of consumer goods in the short term, and that the price shock in domestic markets after the attack on Iran will continue. The report adds that although the release of news about the initial agreement to end the war with Iran has raised some doubts about the possibility of reducing the prices of consumer goods in American markets, experts warn that a significant reduction in the prices of gasoline, food and airline tickets is unlikely to be achieved quickly.
Despite the drop in oil prices following the deal, an immediate rebound in gasoline prices is not expected, the report said, as refiners buy crude oil weeks in advance, which in turn delay the impact of cheaper products on end consumers.
Airfares will also not fall quickly in the US, as airlines buy fuel in advance and adjust schedules gradually. This means that the real impact of lower oil and jet fuel prices on commodities will take weeks or months to manifest.
The British newspaper predicted that food prices will remain under persistent inflationary pressure for several months to come. Experts attribute this to the continued rise in fuel costs, supply chain disruptions, as well as a severe global fertilizer shortage, which is negatively affecting crop yields worldwide.
In the same vein, some critical industries, such as footwear and transport, expect costs and prices to remain high until 2026-2027. This is due to their high dependence on imports, customs tariffs and additional fuel costs, which together indicate a long-term recovery path for consumers across all business and service sectors.