Oil prices up again to start the week.  What's that mean for your wallet?

ST. LOUIS, MO (KMOX) - World and national events continue to hit us in the wallet, especially the Iran conflict. "The most obvious one is gas prices and inflation," points out John Horn, economics professor, Olin Business School, Washington University. Inflation sits at 3.3%, "which is well above what the Federal Reserve likes to target at 2%." When an economy is squeezed by high energy prices, Horn says it trickles through everything. It takes away from what consumers have to spend on other goods and services. It also adds to transportation costs, which in turn makes goods more costly. Click on the player below to hear more.