The financial implications of the conflict in the Middle East may not be seen in North America for a while yet.

That’s according to Larry Short of Short Financial, a division of iA Private Wealth.

Short says the price of oil has increased, but the stock markets are holding steady – at least in North America. In Asia and Europe the markets have taken a hit.

Short says the inflationary pressures will primarily be felt in those regions as well, but that doesn’t mean there won’t be any impacts here.

He says the prices of rice and wheat are expected to rise as a result of the conflict, and then there is the separate issue of Canadian tariffs on pot ash for American farmers.

“We’re expecting food prices to move up anyway. So yeah, this is going to have an effect overall.” Short says the longer the conflict goes on, it will have an impact on prices on the shelves at some point, but it might to 6 to 10 months for that to happen.