The surprising everyday items soaring in price because of the Iran war
Topics: Iran, World News
Callum Jones
Featured Image Credit: Morteza Nikoubazl/NurPhoto via Getty Images
Topics: Iran, World News
While a ceasefire may be in place following a joint US-Israel attack on Iran earlier this year, the damage caused by war is continuing to be felt across the globe.
Just because the US isn't launching missiles in the Middle East right now, doesn't meant things are back to normal.
The Strait of Hormuz is still not operational, causing fuel prices and energy shortages worldwide.
While the travel industry is being hit hard, especially in Europe, there's also everyday items which are seeing hike prices because of the situation in Iran.
Earlier this week, McDonald's announced they could soon be rising the price of some items on their menu because of the war in Iran.
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Lauren Shultz, who heads up the UK branch of the fast food chain, told BBC Radio 4’s Today programme: "We have long standing, strong relationships with our suppliers, who have given us a lot of cost certainty.
"We will likely to see some prices go up but in a small disciplined way. It is where customers are willing to pay a little bit more."
Yep, remarkably teddy bears are being hit hard as a result of the war due to the widespread use of polyester and acrylic in the toy.
CEO of Aleni Brands, Ricardo Venegas, revealed a 10-15 percent cost increase for these supplies was reported by their Chinese manufacturer just three weeks into the war.
"I think this situation demonstrates how much oil permeates throughout our system, and we can’t get away from it," Brands told the Associated Press.
"Who would have thought that the price of a toy would have a direct relationship with oil?"
Producers across the globe have hiked prices up by a whopping 30 percent as a result of the Iran war, with Karex Bhd, who supply brands such as Durex and Trojan, revealing all the ingredients have seen prices soar.
The likes of synthetic rubber and nitrile found in the manufacturing of condoms are becoming expensive, while packaging for the bedroom essential and lubricants have seen price rises.
Goh Miah Kiat, the CEO of Karen Bhd, said: "The situation is definitely very fragile, prices are high… We have no choice but to transfer the costs right now to the customers."
That's not all the everyday items being hit, with the likes of computer keyboards, lipstick, tennis rackets, pyjamas, soft contact lenses, detergent, shaving cream and pillows, just to name a few, all being impacted.