Trump Says He 'Loves Inflation' Amid Price Hikes; IAEA Demands Iran Uranium Declaration

Former US President Donald Trump declared on June 10 that he "loves inflation," a statement made even as US consumer price data for May showed the fastest increase in three years, exceeding 4%. Trump attributed the current price hikes primarily to oil supply disruptions stemming from the conflict with Iran, asserting that prices would drop sharply once the conflict concludes.

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I love inflation.

He further explained his approval of a secret plan to escort oil tankers through the Strait of Hormuz amid concerns over rising energy prices, describing the operation as successful. However, analysts caution that oil prices could remain volatile even if the Strait of Hormuz reopens. The rising inflation is also seen as a potential disadvantage for the Republican Party in the upcoming November midterm elections.

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When the conflict ends, prices will drop sharply.

Meanwhile, the International Atomic Energy Agency's (IAEA) Board of Governors passed a resolution on June 10, requiring Iran to declare its remaining enriched uranium stockpile and allow inspectors to verify the material. This resolution, submitted by the US, UK, France, and Germany, passed with 21 votes in favor, 3 against, and 10 abstentions. Russia, China, and Niger opposed it.

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This is a worthy decision and the campaign was successful.

In a separate but related development, the US Department of Energy announced it is seeking to loan up to 40 million barrels of crude oil from the Strategic Petroleum Reserve to help stabilize fuel prices. This initiative is part of a broader plan to release a total of 172 million barrels from the reserve, with approximately 133 million already loaned out. Current reserves stand at 349.2 million barrels, the lowest since August 2023.

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the resolution made excessive demands and only focused on the consequences of the current situation, while not mentioning the root cause of the problem.