Trump Says He 'Loves' 4.2% Inflation, Citing 22 Ships and $85 Oil
Updated
Updated · CNBC · Jun 10
Trump Says He 'Loves' 4.2% Inflation, Citing 22 Ships and $85 Oil
3 articles · Updated · CNBC · Jun 10
Summary
4.2% annual CPI inflation, the highest in three years, drew Trump's response that "I love the inflation" when asked in the Oval Office about the new data.
Trump tied that view to oil-market disruption, saying U.S. forces had taken out 22 ships and "millions of barrels of oil," which he said helped push crude to $85 a barrel.
2.9% core inflation — excluding food and energy — matched economists' forecasts, contrasting with the sharper headline CPI increase.
The remarks linked domestic price data to military action and energy markets, potentially widening scrutiny of how the administration explains rising consumer costs.