Watch: 'I love the inflation,' Trump tells reporters

In a surprising statement, U.S. President Donald Trump told reporters that he "loved" the current inflation rate, which has surpassed 4%. He expressed his belief that prices will decrease significantly once the conflict with Iran concludes.

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I love the inflation.

Trump attributed the rising costs of essential goods, including fuel and fertilizer, to Iran's actions in closing the critical Strait of Hormuz shipping route. He framed this situation as a national security concern, emphasizing that Tehran's blockade directly contributes to inflation.

The president reiterated his confidence that reopening the strait to tanker traffic would lead to a sharp decline in oil prices. "When it's over, you will see oil drop to where it was before," Trump predicted, adding, "It's coming down. It's going to come down like a rock."

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It was worth it to me.

Meanwhile, Republicans are facing concerns about potential voter backlash over the rising cost of living. With midterm elections approaching, a consumer revolt fueled by inflation could jeopardize their control of the U.S. House of Representatives and the Senate. Trump himself, who won the 2024 presidential election partly on a promise to lower inflation, has seen his approval ratings on the economy fall.

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When it's over, you will see oil drop to where it was before. It's coming down. It's going to come down like a rock.