President Donald Trump declared his “love” for inflation on Wednesday, after the United States Consumer Price Index inflation rose to 4.2%.
“No, I love it, the numbers were great. You know what I really love? I love the inflation,” Trump said during an Oval Office signing ceremony for the Secure America Act.
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The U.S. Bureau of Labor Statistics reported Wednesday that the CPI for consumers rose 0.5% in May, a slight slowdown from April’s 0.6% gain. Prices for all items were up 4.2% year over year before seasonal adjustment.
Since the onset of the war with Iran, energy and food prices have increased, contributing to higher inflation and placing additional financial pressure on American households. Inflation has now climbed to the highest level in three years, driven largely by soaring fuel costs and broader increases in the cost of everyday goods.
Trump stated that the U.S. has been taking out millions of barrels of oil he claimed no one knows about.
“You know who doesn’t know about it? Iran until right now,” he said.
INFLATION ROSE TO 4.2% IN MAY, HIGHEST IN THREE YEARS, AS IRAN WAR SPIKED ENERGY PRICES
Trump said his efforts to combat rising costs in the economy were through the One Big Beautiful Act, although some members of Congress believe the bill serves the opposite.
Inflation has reached its highest level since 2023, with reports showing that it could push even higher.
