President Donald Trump said he 'loves' inflation as U.S. consumer prices rose at their fastest pace in three years in May 2026. The U.S. Consumer Price Index increased by 4.2% year-over-year, according to Livemint.com, and inflation rose for a third consecutive month, according to ABC News. Democrats responded to Trump's comment as a political issue, with Senate Democratic Minority Leader Chuck Schumer saying Trump's remarks reflected a lack of concern for American households. The Democratic Party posted a new campaign ad in response, according to Livemint.com. Republican House Speaker Mike Johnson contended that Trump's comments had been misconstrued, according to Livemint.com.

The U.S. war in Iran is cited as a factor driving up energy prices and inflation, according to the BBC. Trump said inflation would fall after the resolution of the war in Iran, and he has often said that as soon as the war in Iran is over, he believes energy prices will decline rapidly, according to ABC News. Trump also claimed the United States has been quietly taking out millions of barrels of oil through the Strait of Hormuz, according to ABC News. An account referencing a 'US-Israel war in Iran' appears in one source, but the involvement of Israel is not corroborated by other reports. A Bluesky user claimed Trump said he loves inflation because it inflates the corrupt wealth of the Trump family, according to Bluesky.