That’s the largest gain since April 2023.
When Donald Trump was asked about the same in a White House press briefing, this is what the US president was quoted as saying:
TRUMP: “No, I love it. The numbers were great. You know what I really love? I love the inflation, you know why? Because as soon as this war is over, you know, I can say it now. Something you didn’t know. Did you know we’ve been taking out millions of barrels of oil? Nobody knows it. You know who doesn’t know about it? Iran, until right now. We took out the other night 22 ships late at night with no lights, because they don’t have any radar. After all, we blasted the crap out of it.”
Reporter: Are you concerned, Mr. President, about the latest inflation number which came out this morning?
Trump: No, I love it. I love the inflation. pic.twitter.com/vktX6C9lbk
— Acyn (@Acyn) June 10, 2026
When the White House reporter asked about the possibility of inflation coming down, Trump said, “When the war is over? It’s coming down. It’s going to come down like a rock. And again we’re taking out millions… which I’m just announcing today for the first time but we’ve been taking out millions of barrels of oil, millions of barrels. Every night, we took out oil. But now I’m going to tell you, because they just figured it out. So, now that they figured it out, I can tell you.”
Asked about US government data showing consumer inflation increased at its fastest pace in three years in May, and whether it could hobble his fellow Republicans just months ahead of November’s midterm election, Trump said: “I love the inflation.”
The president then explained how he greenlit a plan to secretly move oil tankers through the Strait of Hormuz over concerns of higher costs and increasing inflation. “You know who doesn’t know about it? Iran, until right now,” Trump said about his calculus and calling the operation a success.
Trump has called the war on Iran a detour and framed it as a national security issue, as Tehran’s closure of the key shipping route has pushed up the cost of gasoline, fertilizer and other goods, contributing to inflation.
Also Read: KOSPI slides 3%, Asian stocks fall as Iran tensions lift oil prices