President Donald Trump on Wednesday expressed a new stance on inflation, saying he 'loves' it. This was reported by Qazaqyia.kz citing Associated Press.
Asked about the May consumer price index, which rose 4.2% over the past year, Trump did not dismiss the issue as a 'hoax' as he had before. Instead, he said: 'You know what I really love? I love the inflation.'
Trump attributed higher prices to the war with Iran and promised that prices would 'come down like a rock' once the war ends. He also claimed for the first time that U.S. forces are moving 100 million barrels of oil through the Strait of Hormuz, which has been effectively closed by the war since late February.
The comment came as voters rank the economy as a top concern ahead of November's midterm elections and give Trump low marks on the issue. Democrats quickly promoted his remarks on social media.
Trump had pledged during his 2024 campaign to quickly vanquish inflation, but now argues that higher prices are solely a function of the Iran war raising energy costs.