Trump's Shocking Inflation Remark Sparks Outrage

President Donald Trump appeared to downplay a Bureau of Labor Statistics (BLS) report finding rising inflation on Wednesday, telling reporters, “I love the inflation” in the Oval Office.

Inflation and the high cost of living remain major political issues ahead of the 2026 midterm election, particularly after the Iran war sent gas prices surging across the country. Tackling inflation was a cornerstone of Trump’s 2024 presidential campaign, but his approval has suffered as prices remain high.

Wednesday’s BLS report found that prices rose by 0.5 percent in May, slowed from 0.6 percent in April, while annual inflation accelerated to 4.2 percent from 3.8 percent in April. It marks the fastest year-over-year pace since April 2023.

Trump was asked whether he is concerned about the inflation numbers.

“No. I love it. The numbers were great. You know what I really love? I love the inflation. You know why? Because as soon as this war is over, you know I can say it now. Something you didn’t know—did you know we’ve been taking out millions of barrels of oil? Nobody knows it. You know who doesn't know about it? Iran, until right now. We’ve took out the other night 22 ships, late at night, with no lights because they don’t have any radar because we blasted the crap out of it. That’s why oil is $85 a barrel,” he said.

He continued to say that the economic ramifications were “worth it” to prevent Iran from obtaining a nuclear weapon. Oil prices will drop to pre-war levels once the conflict is over, he said.

“We’ll be back at those levels very soon,” Trump said.

White House spokesperson Kush Desai told Newsweek Trump was “rightfully touting how the May CPI report showed that, despite temporary disruptions in energy markets, prices of prescription drugs, dairy products, cars, as well as both health and auto insurance along with other essentials continue to decline thanks to the Trump administration’s policies.”

“President Trump has consistently maintained that oil and gas prices – and thus overall inflation – will plummet once the Iran situation is resolved, and the Administration will continue pushing our affordability agenda to enable Americans to keep more of their hard-earned money,”’ Desai said.

Trump Approval Rating on Inflation

The report comes as a recent poll from FocalData found that his approval rating on inflation hit a record low, with 69 percent of Americans saying they disapprove of Trump on inflation compared to only 18 percent who approve of his handling of the issue.

It surveyed 1,719 respondents from May 29-June 1.

Democrats were quick to seize on Trump’s comments.

“Trump really said, ‘I love the inflation.’ On camera. For all of America to hear. His contempt for you knows no bounds,” Senate Minority Leader Chuck Schumer, a New York Democrat, wrote to X.

Newsweek reached out to the White House for comment via email.