“I like inflation. You know why.” No, this wasn’t the start of an economics lecture, but the start of another rant from US President Donald Trump. Trump was asked about rising U.S. inflation following the release of the new Consumer Price Index report, and he quipped, “I love inflation.”
But there is an explanation. Trump said in the video, inflation After the war, the United States will receive “millions of barrels of oil” from Iran. He further noted that Iran did not even know it was being robbed.
“The other night, we took 22 ships in the middle of the night, no lights. Because they didn’t have any radar. Because we blew it up,” Trump said.
Trump also used math to prove his point.
He said oil prices are currently at $85 a barrel but will fall as he ships oil from Iran and Venezuela.
“We went to Venezuela and did a 48-minute operation. Now we’re taking millions of barrels of oil out of there. We basically did the same thing in Iran. It just didn’t look as pretty,” he added.
“We reached the highest in stock Market in history. Highest 401(k)s in history. So it takes a lot of courage to hit Iran with B2 bombers. I tell them the stock market is going to be down 25%. But it’s worth it. It’s worth it (Iran doesn’t have) nuclear weapons,” he added.
Trending in #CantAffordTrump rhetoric
The comments sparked a trend online titled “#CantAffordTrump” as Trump’s statements about rising inflation angered many.
“I love inflation,” Trump said on latest inflation data. “
Do you know why? Because when families can’t afford groceries or rent, the days of Trump’s casinos are over again. ” said one netizen, Jon Cooper on X.
U.S. inflation accelerated for a third consecutive month in May as negotiations to end the war with Iran stalled, adding to price pressures on consumers. New York The Times reported.
New data released by the U.S. Bureau of Labor Statistics on Wednesday showed that the consumer price index rose 4.2% in May from a year earlier. The New York Times further reported that this figure is higher than the 2.4% annual growth rate in February before the outbreak of the Middle East conflict and is the fastest growth rate since April 2023. Over the course of the month, overall prices increased by 0.5%.
