thettctransitfanatic
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Trump says 'I love the inflation' as US prices rise at fastest rate in three years
President Donald Trump has said "I love the inflation" after official figures showed that US prices rose last month at their fastest rate for three years.
Bureau of Labor Statistics (BLS) figures for May showed that prices had gone up by 4.2% over the previous 12 months. The rate of increase, from 3.8% in April, was driven by rising energy costs in the wake of the US-Israel war in Iran. "I love it. The numbers were great. You know what I really love? I love the inflation," Trump said at the White House.
But he promised the rising prices would "come down like a rock" when the war with Iran was over. The US and Iran have again exchanged fire in recent days. Trump later told the New York Post that his remarks had been taken out of context, saying he had meant that he actually loved the fact that inflation was not higher. "I love the inflation numbers because of what I'm talking about," Trump told The Post. "The numbers are going to be phenomenal because what's showing is that despite the fact that we're in a war, the numbers are much lower than anticipated, and when we're out of that war, the numbers will be at lower numbers than they were even before it started." In his earlier comments responding to the latest inflation figures, the president said US forces had conducted nighttime operations to take "millions of barrels" of oil from Iran, which he said had contributed to a slight drop in oil prices. "When this conflict is over… you will see oil drop to where it was before," he told reporters in the White House. The president pointed to a trip to Iowa in early 2026, saying he saw petrol selling for $1.85 per gallon, adding that "we will be back at those levels very soon". The global benchmark for oil, Brent crude, is still trading significantly higher than pre-war levels.
Trump says 'I love the inflation' as US prices rise at fastest rate in three years
President Donald Trump has said "I love the inflation" after official figures showed that US prices rose last month at their fastest rate for three years.
Bureau of Labor Statistics (BLS) figures for May showed that prices had gone up by 4.2% over the previous 12 months. The rate of increase, from 3.8% in April, was driven by rising energy costs in the wake of the US-Israel war in Iran. "I love it. The numbers were great. You know what I really love? I love the inflation," Trump said at the White House.
But he promised the rising prices would "come down like a rock" when the war with Iran was over. The US and Iran have again exchanged fire in recent days. Trump later told the New York Post that his remarks had been taken out of context, saying he had meant that he actually loved the fact that inflation was not higher. "I love the inflation numbers because of what I'm talking about," Trump told The Post. "The numbers are going to be phenomenal because what's showing is that despite the fact that we're in a war, the numbers are much lower than anticipated, and when we're out of that war, the numbers will be at lower numbers than they were even before it started." In his earlier comments responding to the latest inflation figures, the president said US forces had conducted nighttime operations to take "millions of barrels" of oil from Iran, which he said had contributed to a slight drop in oil prices. "When this conflict is over… you will see oil drop to where it was before," he told reporters in the White House. The president pointed to a trip to Iowa in early 2026, saying he saw petrol selling for $1.85 per gallon, adding that "we will be back at those levels very soon". The global benchmark for oil, Brent crude, is still trading significantly higher than pre-war levels.
