Just months before the crucial US midterm elections, President Donald Trump offered an unexpected response to surging prices: "I love inflation." Trump, however, argued the spike was linked to the Iran conflict and insisted inflation would ease once it ended.
The President's remark came after fresh data showed American inflation accelerating to 4.2 per cent in May, its highest level since 2023.
Asked by reporters at a White House briefing on Wednesday whether he was worried about the latest inflation numbers, Trump replied: "No, I love it. I love the inflation."
The President then explained his position by linking inflation to disruptions in global energy markets caused by the Iran conflict. He claimed his administration had authorized a covert effort to move oil shipments through the Strait of Hormuz.
"It was worth it to me," Trump said about his calculus and calling the operation a success. "When it's over, you will see oil drop to where it was before. It's coming down. It's going to come down like a rock," he added.
Senate Democratic leader Chuck Schumer posted on social media that Trump had openly admitted to loving inflation "for all of America to hear," adding that the president's "contempt" for ordinary Americans "knows no bounds."
