“I love inflation. You know why.” No, it wasn’t the initiation of an economics lecture, but the start of another one of US President Donald Trump’s rants. Trump was asked about the rise in inflation rates in the States after the new CPI report, to which he quipped “I love Inflation.”
There was an explanation though, Trump said in the video that the inflation would square off after the war is over, as the United States is taking out “millions of barrels of oil” from Iran. He further notes that Iran doesn’t even know that it’s being mugged.
“We took 22 ships the other night, late at night, without lights. Because they don’t have any radars. Because we blasted the c**p out of it,” said Trump.
Trump also had the math to prove his point.
Also read: Americans face higher daily costs as inflation may climb to 4.2% in May, straining consumer budgets nationwide
He said that the oil is at $85 per barrel but will go down as he is taking barrels out of Iran and Venezuela.
“We went to Venezuela, did a 48-minute operation. Now we are taking out millions of barrels of oil from there. We essentially did the same in Iran. It just doesn’t look as pretty,” he added.
“We hit the highest stock markets in history’. The highest 401(k)s in history. So it took a lot of courage to hit Iran with B2 bombers. And I told them that the stock market would go down 25%. But it was worth it. Worth the (Iran not having) nuclear weapons,” he adds.
#CantAffordTrump Trends Amid Remarks
The comments led to an online trend with the caption ‘#CantAffordTrump’, as Trump’s statement about the rise in inflation rubbed many on the wrong side.
“Trump on the latest inflation numbers: “I love the inflation.”
You know why? Because when families can’t afford groceries or rent, it’s just another day at the Trump casino,” said a netizen, Jon Cooper on X.
U.S. inflation accelerated for a third-straight month in May amid a stalemate in negotiations to end the war with Iran, adding to the price pressures confronting consumers, the New York Times reported.
The Consumer Price Index report rose 4.2 percent in May from a year earlier, new data from the Bureau of Labor Statistics showed on Wednesday. NYT further reported that is up from a 2.4 percent annual increase before the conflict in the Middle East started in February and is the fastest pace since April 2023. Over the course of the month, overall prices jumped 0.5 percent.