Australians could end up paying up to 20 per cent more on everyday items as the war in the Middle East closes in on its second month with no end in sight, experts say.The prices of fuel, food, and other basics are expected to rise, feeding inflation and driving cost-of-living pressures even higher as global shipping remains disrupted.Experts have cautioned since the outbreak of the conflict on 28 February that the longer it drags on, the greater its economic impact will be, with a recession becoming increasingly likely each passing week.In its April global analysis, NAB wrote that oil prices over US$120 a barrel are where recession starts to become a real risk, something they say has almost a fifty-fifty chance of happening.Its worst-case forecast sees the Australian economy contract by 2 per cent, unemployment climb above 9 per cent, and house prices collapse.Inflation figures from the Reserve Bank of Australia (RBA) are due to be released on Wednesday, giving a first look into how the conflict has impacted the Australian economy Greg Jericho, chief economist at progressive think tank the Australia Institute, told SBS News that those figures will only capture a limited picture, as fuel prices fluctuate."We haven't really seen the big flow through yet into other areas, especially foodstuffs and things like that," Jericho said."There doesn't seem to be any short-term prospect of things being resolved, and as a result, I think we can expect to see petrol prices probably start going back up again at some point."On Monday, the price of oil climbed once again as US-Iranian negotiations stalled