Trump has a new, surprising take on the higher cost of living: ‘I love the inflation’
Summary
President Donald Trump said he “loves the inflation” despite recent reports showing higher prices for consumers. He linked inflation to the ongoing war with Iran and said oil shipments through the Strait of Hormuz will help bring prices down soon.Key Facts
- Inflation rose by 4.2% over the past year, reaching the highest level since April 2023.
- President Trump called the inflation numbers “great” and said prices will drop after the Iran war ends.
- Trump claimed U.S. forces are secretly moving millions of barrels of oil every night through the Strait of Hormuz.
- The Strait of Hormuz is a key route for about 20% of the world’s oil supply and was partly closed due to the war with Iran.
- Democrats criticized Trump’s comment about loving inflation and shared reactions on social media.
- Inflation and the economy are top concerns for voters ahead of the November midterm elections.
- Energy Secretary Chris Wright said he prefers lower inflation but praised Trump’s leadership in other areas.
- Trump’s new stance differs from his earlier claims that inflation was a hoax or that he was lowering living costs.
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