President Donald Trump has a surprising take on a new report that shows inflation spiking to its highest level in three years.
President Donald Trump speaks in the Oval Office of the White House, Wednesday, June 10, 2026, in Washington. on Wednesday showed how he had learned to stop worrying about inflation and simply, in his own words, “love” it.had jumped 4.2% over the last year, the president took a surprisingly optimistic tack with the challenging news.
Trump didn't dismiss thethat 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.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, the primary shipping channel for 20% of the world’s global oil supply that has been effectively closed by the war since late February.
“Trump really said, ‘I love the inflation. ’ On camera. For all of America to hear,” Senate Democratic Leader Chuck Schumer quickly posted on X. “His contempt for you knows no bounds. ” House Democratic Leader Hakeem Jeffries said on X that with Trump's stated love of inflation,"We finally found something that Donald Trump loves as much as he loves himself.
"“I love ending Iran’s ability to have a nuclear weapon,” Wright answered. He only conceded after being pressed: “No, I would prefer lower inflation. ” When asked about Trump's specific comments, Wright said, “He's an entertaining, hyperbolic guy who's done tremendous leadership. ” Trump claimed the secretive shipments were why oil prices had fallen below $90 a barrel, after surpassing $110 at the start of April.
“I'm just announcing today for the first time, but we’ve been taking out millions of barrels of oil, millions of barrels every night,” Trump said. On social media, the president said the mission began last month and had “resulted in more than 100 MILLION Barrels of Oil making its way through the Strait, and into the Open Market. More than 200 Commercial Ships have safely traveled through the Strait.
” There was no immediate data available to back up that total, and it was not immediately clear what role the U.S. military had played. To put that figure into context, a daily average of 20 million barrels of oil had gone through the strait before the war, which would mean that Trump's mission had resulted in the equivalent of five days' worth of normal oil shipments.
Responding to the new inflation report, the White House pointed out that some expenses had dropped in May relative to the previous month: the price of new vehicles, prescription drugs and auto insurance, for example. But when the overall inflation number is paired with the change in hourly wages, there is a bleak sign that people's spending power relative to their earnings has declined.
“President Trump has consistently maintained that oil and gas prices — and thus overall inflation — will plummet once the Iran situation is resolved, and the administration will continue pushing our affordability agenda to enable Americans to keep more of their hard-earned money,” White House spokesman Kush Desai said in an email. But the financial markets were cautious about Trump's claims that he was lowering prices by getting oil tankers through the strait — claims that came as the United States also launched airstrikes against Iran, and as Tehran fired back at countries in the region.
Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. A pawfect match.
Tanner Koziol's dog's name is Jax, and he gets drafted to play in JAX! Jaguars mandatory minicamp opens doors for fans ahead of 2026 seasonNews4JAX reviews nearly 1,000 pages of records related to JEA subpoenaDCPS superintendent responds to Jacksonville city council decision to send 1-mill renewal to ballotsFamily requests community support for Mandarin High football player critically injured in shootingJaguars Antonio Johnson on veteran role in safety room and why he changed his jersey numberHeat & humidity building across Northeast Florida this weekend.
How high will the temps soar? Woman who helped search for missing 2-year-old on Northside says boy found in neighbor’s poolResidents across Northeast Florida report shockwaves from earthquake off Cuba coast
Please follow us on Google to support us Donald Trump Business Emilia Sykes Christopher Wright Politics
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
President Donald Trump Booed at NBA Finals in New York CityThe New York Knicks are facing the San Antonio Spurs for Game 3.
Read more »
US Army helicopter goes down, but President Donald Trump says 'pilots are fine'The New York Times reported that a U.S. Army helicopter went down near the Strait of Hormuz. President Donald Trump has said 'The pilots are fine.'
Read more »
What new Southern Baptist president has said about Donald TrumpPastor Willy Rice has pushed for the church to reject 'wokeness' but he criticized a social media post of President Donald Trump.
Read more »
US President Donald Trump Launches Fresh Strikes Against IranUS President Donald Trump has launched fresh strikes against Iran in retaliation for the shooting down of a US Army Apache helicopter in the Strait of Hormuz. The US Central Command said it began launching self-defense strikes against Iran at 5pm ET on Tuesday, in response to yesterday's downing of the helicopter. Trump's comments come as tensions flared in the Middle East last night after he launched strikes against Iran.
Read more »