‘I love the inflation’: Trump embraces 3-year price high as Iran war hits home
US president’s off-handed comment on the latest price jump sparks a fierce political backlash
US President Donald Trump on Wednesday brushed off concerns about consumer inflation surging to a fresh three-year high in May, on the back of soaring energy prices caused by his war in Iran.
“The numbers were great … I love the inflation,” Trump told reporters, a comment pounced on by Democrats who have made rising prices a cornerstone of their campaign to take control of Congress in November’s midterm elections.
The consumer price index (CPI) rose 4.2 per cent year-on-year, up from the previous month’s 3.8 per cent figure and the highest reading since April 2023.
The Republican Speaker of the House Mike Johnson later argued that the president’s remarks had been taken out of context, but Senate Democratic Minority Leader Chuck Schumer said they showed Trump’s disdain for the financial struggles faced by American families.
“Trump really said, ‘I love the inflation.’ On camera. For all of America to hear. His contempt for you knows no bounds,” Schumer posted on X.
And the Democratic Party posted a new campaign ad on its social media account featuring a video of Trump’s comments.