President Donald J. Trump remains confident in the American economy’s resilience despite the stubborn persistence of high prices, shrugging off affordability concerns with his standard devil-may-care attitude.
The Labor Department released its report showing that the Consumer Price Index rose at an annual rate of 4.2 percent over the last 12 months, with the month of May alone accounting for 0.5 percent as gas prices remain elevated due to the Iran war and closure of the Strait of Hormuz.
When asked by a reporter about the numbers in the Oval Office on Wednesday, Trump responded, “No, I love it. The numbers were great,” before adding, “I love the inflation,” stating that the U.S. has quietly taken millions of barrels of oil out of Iran and that 200 ships have passed through the vital navigational chokepoint.
‘You know what I really love? I love the inflation,’ President Trump said, appearing to embrace the data showing inflation has risen more than 4% and reiterated his belief that prices will fall as soon as the Iran war ends https://t.co/FHsVen9iGF pic.twitter.com/9XRFChG69d
— Reuters (@Reuters) June 10, 2026
The president also stressed this belief that oil prices will plummet when the Iran war ends, which may not be anytime soon after the resumption of U.S. strikes this week and the Islamic Republic’s announcement that it was again closing down the Strait of Hormuz.
Reacting to the uproar about Trump’s comments, Republican Speaker of the House Mike Johnson told CNN’s Manu Raju, “It was totally out of context. You know what he was talking about.”
Whether or not it was taken out of context, Trump’s remarks were a gift to the Democrats and are guaranteed to be a fixture of the party’s campaign ads as they seek to retake control of Congress in the upcoming midterms.
The Democratic National Committee (DNC) wasted no time in sharing a preview of the coming ad blitz on social media.
NEW AD: Trump said the quiet part out loud—he loves inflation.
Every American should see this. pic.twitter.com/xsrjFhLmXY
— Democrats (@TheDemocrats) June 10, 2026
Gleeful Democrats also rushed to exploit the opportunity to portray Trump as being indifferent to the economic suffering of ordinary Americans.
Trump really said, “I love the inflation.” On camera. For all of America to hear.
His contempt for you knows no bounds. pic.twitter.com/ezoDSBPtej
— Chuck Schumer (@SenSchumer) June 10, 2026
So there you have it: President Trump loves that you’re paying higher prices. https://t.co/JLZoky0K3c
— Elizabeth Warren (@SenWarren) June 10, 2026
Candidate Trump: “I will end inflation on Day One.”
President Trump today: “I love the inflation.”
You know who doesn’t love inflation, Mr. President? Working families struggling to afford gas, groceries and other necessities because of your disastrous actions. https://t.co/uUMf1vXSmR
— Bernie Sanders (@BernieSanders) June 10, 2026
Don’t worry, everyone knows. https://t.co/85UTJkIaz8
— Senator Chris Coons (@ChrisCoons) June 10, 2026
Gas prices have surged by 41% and energy prices have skyrocketed by 24% because of Trump’s war with Iran.
Donald Trump promised to lower costs. He raised them.
— Ken Martin (@kenmartin73) June 10, 2026
And Democrats just won the midterms https://t.co/Engs3p1zBc
— Jessica Tarlov (@JessicaTarlov) June 10, 2026
Trump elaborated in a Wednesday interview with the New York Post.
“I love the inflation numbers because of what I’m talking about,” the president told the paper.
“The numbers are going to be phenomenal because what’s showing is that despite the fact that we’re in a war, the numbers are much lower than anticipated, and when we’re out of that war, the numbers will be at lower numbers than they were even before it started,” Trump said.
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