Trump comments on inflation after U.S. CPI reaches a three-year high
US inflation data shows 4.2% annual CPI as Trump praises the latest reading See what rising prices, core inflation, and oil talks could mean for voters
President Donald Trump responded to new U.S. inflation data on Wednesday by saying he “loves” the latest reading, even though the consumer price index showed annual inflation at 4.2%, its highest level in three years.
Speaking at the White House, Trump suggested prices could ease after the war with Iran ends. He linked the inflation outlook to oil production and shipments, saying the U.S. had been taking out large amounts of oil.
The report showed core inflation, which excludes food and energy, rose 2.9% from a year earlier, matching economists’ expectations. The comments came as rising prices remain a political concern for Republicans ahead of November’s elections.