President Donald Trump addressed concerns about rising inflation in the Oval Office, responding to a Bureau of Labor Statistics (BLS) report. He stated, “I love the inflation,” dismissing worries over the report finding increasing prices.
Inflation continues to dominate political discussions ahead of the 2026 midterm elections. This issue gained attention following the Iran war’s impact on gas prices nationwide. Despite focusing on tackling inflation during the 2024 presidential campaign, Trump’s approval rating has declined as prices remain high.
The BLS report showed a 0.5 percent rise in prices during May, slightly down from April’s 0.6 percent increase. However, annual inflation rose to 4.2 percent from April’s 3.8 percent, marking the fastest increase since April 2023.
“No. I love it. The numbers were great. You know what I really love? I love the inflation,” Trump expressed, when asked about his concern over the inflation figures.
He explained that once the war with Iran ends, oil prices will drop as the U.S. has been covertly extracting millions of barrels of oil. Trump claimed this operation had significant outcomes, including a drop in oil prices to $85 a barrel, calling it a strategic move to prevent Iran from acquiring nuclear capabilities.
White House spokesperson Kush Desai supported Trump’s optimism. Desai highlighted how the May CPI report demonstrated consistent declines in costs for prescription drugs, dairy products, cars, and various insurance types due to Trump’s policies.
“President Trump has consistently maintained that oil and gas prices – and thus overall inflation – will plummet once the Iran situation is resolved,” Desai said.
Despite these declarations, a FocalData poll revealed Trump’s approval rating regarding inflation stands at a record low. The poll, conducted between May 29 and June 1 with 1,719 participants, found 69 percent disapproval of Trump’s inflation management, opposing the 18 percent approval.
Democrats quickly responded to Trump’s comments, including Senate Minority Leader Chuck Schumer from New York.
“Trump really said, ‘I love the inflation.’ On camera. For all of America to hear,” Schumer wrote.
Newsweek sought additional comments from the White House via email.
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