WASHINGTON (AP) — President Donald Trump on Wednesday showed how he had learned to stop worrying about inflation and simply, in his own words, “love” it.Asked about the new report that the consumer price index in May had jumped 4.2% over the last year, the president took a surprisingly optimistic tack with the challenging news. Trump didn’t dismiss the affordability issue as a “hoax” that was started by Democrats, as he has done previously. Nor did he claim that he was bringing down the cost of living.Instead, after the government said that inflation spiked to the highest level since April 2023, Trump praised the numbers.“You know what I really love?” Trump said. “I love the inflation.”It was an unexpected take given that voters ahead of the November midterm elections have ranked the economy as a top concern — and have given Trump low marks on that issue. Within minutes of his on-camera comment, Democrats quickly rushed to promote it on social media.
Trump had pledged in his 2024 campaign to quickly vanquish inflation, but his argument now is that higher prices are solely a function of the Iran war raising energy costs. On Wednesday, he claimed that relief is already on its way because of a secret military operation that had ferried what he said was 100 million barrels of oil through the Strait of Hormuz, the primary shipping channel for 20% of the world’s global oil supply that has been effectively closed by the war since late February.
