Trump says he loves inflation amid rising CPI

President Donald Trump’s declaration that he “loves the inflation” has ignited a political firestorm, drawing swift condemnation from critics who called the remark out of touch with the financial struggles of American households. The comment was made on Wednesday, June 10, during an Oval Office exchange where a reporter asked about a new government report showing inflation at a three-year high.

The Bureau of Labor Statistics reported that the Consumer Price Index rose 4.2 percent in May compared to a year earlier, the fastest annual pace since April 2023. Month-over-month prices increased 0.5 percent. Energy costs were a major driver, with the energy index climbing 23.5 percent over the past year and gasoline prices surging 40.5 percent annually.

In his response, Trump said, “No, I love it. The numbers were great.” He then added, “You know what I really love? I love the inflation.” The president linked the rising prices to the ongoing conflict with Iran, claiming that U.S. actions had secretly moved millions of barrels of oil and disrupted Iranian operations. He asserted that oil prices, then around $85 a barrel, would fall once the war subsides.