Trump’s Remarks on Inflation
President Donald Trump responded to a Bureau of Labor Statistics (BLS) report indicating rising inflation, by stating, “I love the inflation” while addressing reporters in the Oval Office. Inflation and rising living costs are significant political issues as the 2026 midterm elections approach. The conflict with Iran has further increased gas prices nationwide. Tackling inflation was a central promise of Trump’s 2024 presidential campaign, but his approval ratings have suffered due to persistent price increases.
Details of the BLS Report
The BLS report highlighted a 0.5 percent increase in prices for May, slightly down from a 0.6 percent rise in April, while annual inflation rose to 4.2 percent compared to 3.8 percent in April. This marks the fastest year-over-year rate since April 2023. When questioned about his concerns regarding inflation, Trump remarked, “No. I love it. The numbers were great. You know what I really love? I love the inflation.”
He continued, explaining that the economic impact was “worth it” to prevent Iran from acquiring a nuclear weapon. Trump mentioned that oil prices, which currently stand at $85 a barrel, will decrease once the conflict concludes. “We’ll be back at those levels very soon,” Trump added.
White House Statement
White House spokesperson Kush Desai told Newsweek that Trump was emphasizing how the May CPI report demonstrated that, despite temporary disruptions in energy markets, the prices of prescription drugs, dairy products, cars, as well as health and auto insurance, are declining due to the administration’s policies. Desai stated, “President Trump has consistently maintained that oil and gas prices – and thus overall inflation – will plummet once the Iran situation is resolved, and the Administration will continue pushing our affordability agenda to enable Americans to keep more of their hard-earned money.”
Poll on Trump’s Approval Ratings
A recent FocalData poll showed that Trump’s approval rating on inflation reached a record low, with 69 percent of Americans disapproving of his handling of inflation, while only 18 percent expressed approval. The survey included 1,719 participants from May 29 to June 1. Democrats, including Senate Minority Leader Chuck Schumer, criticized Trump’s remarks. Schumer commented on Trump’s statement about loving inflation, highlighting the president’s perceived insensitivity.
Newsweek contacted the White House for further comments via email.