The American economy faces the unwelcome prospect of reignited inflation after the United States launched strikes on three nuclear facilities in Iran.

Amid the ongoing conflict, gas prices have already been increasing, with analysts warning of further hikes in the coming months.

“With the U.S. becoming involved, the risk of Iran retaliating by disrupting the flows of oil from the Middle East has risen significantly,” warned analysts at ANZ. “Prices in the $90–95/bbl range would be the likely outcome.”