Trump: I love inflation - and it will fall again

President Donald Trump expressed an unusual fondness for rising inflation, describing the latest figures as "good" and stating, "I love inflation."

Trump linked the increase in consumer prices to the conflict in Iran, which he believes will temporarily drive up costs. However, he anticipates that inflation will rapidly decline once the war concludes. Since the U.S. and Israel initiated attacks on Iran on February 28, oil and gas prices have notably increased. Iran's subsequent blockade of the Strait of Hormuz, a critical chokepoint for 20% of global oil and gas consumption, further exacerbated price hikes.

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I love it. The numbers were good. You know what I really love? I love inflation.

The president assured that inflation would "fall like a stone" once the conflict is over, predicting a return of oil prices to previous levels. This comes as the U.S. Federal Reserve, which targets a 2% inflation rate, faces pressure. Recent months have seen rising inflation, placing new Fed Chair Kevin Warsh, who took office on May 22, under scrutiny before an upcoming interest rate meeting. Warsh succeeded Jerome Powell, whom Trump had frequently criticized for not lowering interest rates.

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When the conflict is over, then you will see the oil price fall to the previous level.