President Donald Trump took a surprisingly optimistic approach to challenging economic news on Wednesday. When asked about a new report showing the consumer price index (CPI) had jumped 4.2% over the past year—reaching its highest level since April 2023—Trump did not dismiss the affordability issue as a hoax or claim he was actively bringing costs down. Instead, the president praised the numbers, explicitly stating on camera: “You know what I really love? I love the inflation.”
Political Backlash Ahead of Midterms
The unexpected comment arrives at a critical time, as voters consistently rank the economy as their top concern ahead of the November midterm elections. Democrats immediately seized on the televised remark, rushing to promote it across social media platforms. Senate Democratic Leader Chuck Schumer posted that Trump’s “contempt for you knows no bounds,” while House Democratic Leader Hakeem Jeffries quipped that they had finally found something the president loves as much as himself.
During a congressional hearing, Democratic Representative Emilia Sykes even pressed Energy Secretary Chris Wright on whether he also loved inflation. Wright deflected, calling Trump an “entertaining, hyperbolic guy” before conceding that he would prefer lower inflation. While the White House attempted to mitigate the fallout by highlighting recent price drops in specific sectors like auto insurance and prescription drugs, the overall inflation data combined with hourly wages shows a bleak decline in Americans’ spending power relative to their earnings.
Secret Oil Shipments and Market Reaction
Trump, who pledged during his 2024 campaign to quickly vanquish inflation, now argues that higher prices are solely a function of the ongoing Iran war raising global energy costs. To combat this, the president announced that relief is already underway thanks to a previously secret military operation in the Middle East. According to Trump, this mission began last month and has successfully escorted more than 200 commercial ships carrying 100 million barrels of oil through the blockaded Strait of Hormuz.
The president credited these secretive maritime shipments for temporarily pushing oil prices below $90 a barrel, down from a peak of $110 at the start of April. A White House spokesperson reiterated that overall inflation will plummet once the Iran situation is fully resolved. However, financial markets remained highly cautious about Trump’s claims, especially as the U.S. simultaneously launched new airstrikes against Iran. Reflecting this uncertainty, U.S. crude oil futures climbed roughly 4% on Wednesday, closing at nearly $92 a barrel.
Reference
Boak, J. (2026, 10 junio). Trump embraces inflation after a new report shows it’s spiking | AP News. AP News. https://apnews.com/article/trump-love-inflation-democrats-affordability-midterms-603791c93c785221dae8be6df14d807d?user_email=bd2c428b35d2f2d999bc6f7e665bad1355a8dd3247b2afc8121729c30cd9a01a&utm_medium=Morning_Wire&utm_source=Sailthru_AP&utm_campaign=Morning%20Wire%20Thurs%20Jun%2011%2C%202026&utm_term=Morning%20Wire%20Subscribers