Love the inflation,' Trump says as prices rise amid Iran war

Trump’s remarks on inflation unfold against a backdrop of a widening Iran conflict and rising prices. May’s consumer inflation rose at its fastest pace in three years, edging above 4% as food and energy costs climbed. The president told reporters that he "loved" inflation, arguing that prices would retreat once Tehran’s war ends. He also defended a covert plan to move oil tankers through the Strait of Hormuz to blunt higher costs, calling the operation a success. He projected that oil would drop to prewar levels "like a rock" when the conflict subsides, a forecast critics deem optimistic given current tensions. Analysts caution that framing inflation as a win could complicate Federal Reserve policy, potentially delaying rate cuts amid geopolitical risk. The Strait of Hormuz disruption has lifted energy and transport costs, complicating the inflation outlook and the political narrative ahead of elections. Industry officials warned that restoring normal shipments could take months, with price volatility likely to persist through 2026.