Donald Trump on Wednesday insisted he 'loves' the latest US inflation figures as he defended soaring costs in the Oval Office, saying the surging prices, including at the petrol pump, are a consequence of his war with Iran and his handling of American oil reserves.
The remarks came after the US Labour Department reported that its Consumer Price Index was up 4.2 per cent in May compared with a year earlier. It was the first time inflation had hit 4 per cent since 2023, the steepest annual jump in three years and an uncomfortable headline number for any president heading into an election season. The spike has been felt most sharply in fuel, with gas prices up 40 per cent since the US went to war with Iran on 28 February.
