Trump: 'I love the inflation' as prices soar by 4% amid Iran war gas spike

Dave Goldiner, New York Daily News on Jun 10, 2026

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President Donald Trump on Wednesday shrugged off punishing price hikes faced by ordinary Americans, saying “I love the inflation” as the closely watched economic gauge soared over 4% amid the Iran war.

Asked about a new report showing consumer prices rose by 4.2% compared to 12 months ago, Trump told reporters that the report was music to his ears, even though it shows inflation far higher than it was when he took office last year.

“I love it. The numbers were great,” Trump said at an unrelated White House event. “You know what I really love? I love the inflation.”

He went on to claim that prices are skyrocketing at the highest rate in three years only because of the war that he launched against Iran and the spike in energy prices that it caused.

Prices would drop, he predicted, when the war ends.

“You know why? Because as soon as this war is over … you will see oil drop to where it was before,” Trump said.

Democrats wasted no time calling out Trump for what they consider to be insensitivity.

“Trump really said, ‘I love the inflation.’ On camera. For all of America to hear,” Sen. Chuck Schumer tweeted. “His contempt for you knows no bounds.”

Consumer prices rose in April at the quickest annual pace since April 2023. Gas prices are up by nearly 50% since the war started, and analysts warn they could rise as crude oil stockpiles dwindle.

Even if Trump’s economic forecast is true, there is no sign the conflict with Iran will end anytime soon, or that prices would drop quickly if it does.

Trump ordered fresh strikes on Iran overnight after Tehran downed an American helicopter over the Straits of Hormuz, and he threatened to unleash broader strikes on Iranian infrastructure.

Iran says it will counter with attacks on American bases and troops in the region, raising the specter of a return to full-scale combat operations and scuttling a shaky two-month-long ceasefire.

The president’s remarks are likely to be greeted with exasperation by congressional Republican leaders, who are hoping to see Trump show interest in lowering prices and improving the lives of everyday Americans as the midterm elections loom.

Trump’s approval ratings are at historic lows, especially on his handling of inflation and the economy, as Republican lawmakers brace for the verdict of voters in November.

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