'I love the inflation,' Trump says after surge in prices hits 3-year high
President Donald Trump dismissed concerns about rising consumer prices, telling reporters on June 10 that he “loves the inflation” despite gas costs climbing sharply during the ongoing U.S. conflict with Iran.
The Labor Department reported that inflation rose 4.2% in May compared to the previous year the highest increase in three years.
Trump claimed the U.S. has secretly taken millions of barrels of oil from Iran to help stabilize prices, though he did not specify amounts or timing.
Since the war began in late February, gas prices have surged more than 40% for American consumers, with monthly increases continuing through the spring. Energy costs accounted for the majority of May’s inflation spike, according to the Consumer Price Index.
Trump insisted that once the war ends, prices will “come down like a rock,” but acknowledged that peace talks with Iran remain stalled. He also announced plans for new strikes, accusing Iran of delaying negotiations.
The economic fallout from the conflict is expected to weigh heavily on the upcoming midterm elections.
Republicans face challenges in holding their slim House majority, while Democrats see opportunities to gain ground in the Senate.
Trump’s remarks highlight the political risks of high gas prices and inflation tied to the war, even as he maintains confidence that conditions will improve once hostilities conclude.
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