‘I love the inflation,’ Trump says. Americans beg to differ

June 11, 2026 — 12:03pm

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Donald Trump “loves” inflation. Most American households would probably beg, loudly, to differ.

Trump’s response to the highest US inflation number in more than three years was bizarre and his rationale, at best, premature.

After the release of the latest inflation data for the world’s largest economy, which showed the US Consumer Price Index rising at an annual rate of 4.2 per cent in May, up from 3.8 per cent in April, Trump was asked whether he was concerned.

“No, I love it,” he said. “The numbers were great. You know what I really love? I love the inflation. You know why? Because as soon as this war (the war in the Middle East) is over ...”

He went on to say that the US had been taking “millions of barrels of oil” through the Strait of Hormuz and “that’s why oil is at $US85 a barrel.” (It’s actually at $US93 a barrel).

“I love the inflation numbers because of what I’m talking about,” he later told The New York Post, saying his earlier comments had been taken out of context.

‘The numbers were great. You know what I really love? I love the inflation.’Donald Trump

“The numbers are going to be phenomenal because what’s showing is that, despite the fact that we’re in a war, the numbers are much lower than anticipated and, when we’re out of the war, the numbers will be at lower numbers than they were even before it started.”

In January, the month before Trump launched the attack on Iran, the inflation rate was 2.4 per cent and oil was trading below $US70 a barrel.

In a post on Truth Social, Trump wrote that the “wildly successful” passage of commercial ships through the Strait of Hormuz was because the US, not Iran, controlled the strait.

“Their military is defeated, and their economy is lost. It’s over for Iran,” he posted.

At last count, he has declared the........

© The Sydney Morning Herald