'I love the inflation': Trump comment on latest price jump sparks backlash
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- US President Donald Trump expressed approval of rising inflation, calling it "great" and stating "I love the inflation."
- The comment drew immediate backlash from Democrats, who are using rising prices as a key campaign issue.
- Inflation reached a three-year high in May, driven by soaring energy prices due to the US-Iran conflict.
US President Donald Trump has drawn sharp criticism from Democrats for his remarks on rising consumer inflation, which surged to a three-year high in May. Trump described the inflation figures as "great" and stated, "I love the inflation," during a press conference on Wednesday. This comment was quickly seized upon by Democrats, who have made the increasing cost of living a central theme in their campaign to gain control of Congress in the upcoming November midterm elections.
The numbers were great ... I love the inflation.
The latest consumer price index (CPI) data revealed a 4.2 percent year-on-year increase in May, up from 3.8 percent the previous month and marking the highest reading since April 2023. The surge is largely attributed to a significant rise in energy prices, exacerbated by the ongoing US-Israel conflict with Iran. Energy prices alone climbed 23.5 percent over the past year, with gasoline prices spiking by 40.5 percent.
Trump really said, 'I love the inflation.' On camera. For all of America to hear. His contempt for you knows no bounds.
Senate Democratic Minority Leader Chuck Schumer criticized Trump's statement, posting on X that it demonstrated the president's "contempt for the financial struggles faced by American families." The Democratic Party also released a campaign ad featuring a video of Trump's comments, urging Americans to see that "Trump said the quiet part out loud - he loves inflation."
Trump said the quiet part out loud - he loves inflation. Every American should see this.
While House Speaker Mike Johnson suggested the president's remarks were taken out of context, economists remain skeptical of Trump's repeated prediction that inflation will "come down like a rock" once the conflict ends. They anticipate that oil prices may take months to return to pre-war levels. Americans have been grappling with elevated prices for years, influenced by various factors including the COVID-19 pandemic, the Russian invasion of Ukraine, Trump's tariffs, and now the war on Iran. Despite recent stabilization in gasoline prices, which could signal a peak in inflation, the overall impact on household budgets remains a significant concern.
Trump also repeated his prediction that inflation would "come down like a rock" after the conflict ends.
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Originally published by CNA. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.
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