Trump Says 'I Like Inflation,' Emphasizes Prices Will Fall After Iran War Ends

(Central News Agency, Washington, 10th, combined foreign reports) U.S. President Trump today appeared to endorse data showing inflation exceeding 4%. He told reporters 'I like inflation' and reiterated his belief that prices will fall once the Iran war ends.

According to Reuters, when Trump was asked about government data showing May consumer inflation was the fastest in three years and whether it could hurt Republican prospects months before the November midterm elections, he said: 'I like inflation.'

Trump then explained how he approved a plan to secretly move oil tankers through the Strait of Hormuz amid concerns over rising costs and accelerating inflation.

Speaking about the operation, Trump said, 'For me, it was worth it,' and called the operation a success.

Regarding the Iran war, Trump said: 'When it's all over, you'll see oil prices return to pre-war levels. Oil prices are coming down, and they're going to come down like a rock.'

Trump described the war with Iran as a 'fork in the road' and framed it as a national security issue. However, Iran's closure of the vital Strait of Hormuz shipping lane has driven up costs for gasoline, fertilizer, and other goods, further fueling inflation.

Rising prices could also prevent the Federal Reserve from cutting interest rates, a policy Trump has been calling for since returning to office last year.

Republicans are currently working to maintain control of the House and Senate, but there are concerns within the party that consumer discontent could allow Democrats to regain control of Congress, as the cost of living remains the top issue for voters.

Trump's victory in the 2024 presidential election was largely due to his promise to lower inflation. However, since taking office, his approval ratings, including public assessment of his handling of the cost of living, have fallen to the lowest point of his political career.

Efforts to resume oil tanker traffic through the Strait of Hormuz and restore the flow of goods remain stalled. Industry executives and analysts warn that a new oil price shock could hit in the coming weeks, severe enough to shake broader financial markets.

Even if Trump and the Iranian government reach an agreement soon, it is expected to take months to restore supply chains, with disruptions likely throughout 2026. Although U.S. consumers may be less affected by fuel price shocks than other countries, persistently high energy prices could gradually weaken consumer spending.

Last month, while pushing for a deal with Iran and simultaneously threatening another attack, Trump said the economic hardship of the American people was not a factor in his considerations.

He said: 'I don't consider the financial situation of Americans. I don't consider anyone. I only think about one thing: we cannot let Iran have a nuclear weapon.' (Editor: Xu Ruicheng) 1150611