Trump says "I love the inflation" after May CPI hits 4.2%, a three-year high driven by Iran-war energy costs
The May 2026 CPI, released June 10, showed prices up 4.2% year-over-year — the fastest since April 2023 — with energy driving most of the 0.5% monthly rise amid the Iran war. Asked about it in the Oval Office, Trump replied "I love the inflation," predicting prices will fall once the war ends. Democrats led by Schumer's "Trumpflation" floor speech seized on the remark; Speaker Johnson called it "out of context."
Democrats and critics cast the remark as proof Trump is indifferent to families' cost-of-living pain as prices hit a three-year high.
Left outlets framed the comment as a tone-deaf gaffe, with The New Republic calling Trump's follow-up justification 'pathetic' and noting he tied any relief to the end of the Iran war, pairing the line with record-low economic approval as families face the worst inflation in three years.
May CPI rose to a three-year-high 4.2% annually, with war-driven energy costs the main driver, and Trump waved off the report.
BLS data released June 10 showed CPI up 0.5% in May and 4.2% over 12 months, the highest since April 2023, with core CPI at 2.9%. Energy drove most of the monthly increase, reflecting war-driven oil prices. Trump told reporters "You know what I really love? I love the inflation," linking the spike to the Iran conflict and predicting prices would fall once it ends.
Trump argues the elevated inflation is war-driven and temporary, predicting a steep fall once the Iran conflict and high oil prices resolve.
Coverage centered on Trump's explanation that the spike is tied to wartime oil prices and would reverse 'like a rock' after a deal, presenting his optimism as forward-looking as the annual rate hit a three-year high.