Donald Trump has told reporters that he loves “the inflation” after new data released today showed a major surge in prices in the US.
US inflation jumped to 4.2 per cent in May compared to a year earlier. It is the worst month for inflation in three years.
Donald Trump has told reporters he loves ‘the inflation’. AP Photo/Julia Demaree Nikhinson
Trump was asked in the Oval Office if he was concerned about the numbers.
“No, I love it,” he replied.
“I love the inflation.
“You know what I really love? I love the inflation thing. You know why?
“Because as soon as this war is over. You know, I can say it now. Something you didn’t know.
“Do 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.”
It is hard to tell what Trump was trying to say.
Despite dismal polling, Donald Trump still enjoys the support of nearly all elected Republicans. AP Photo/Julia Demaree Nikhinson
But Democrats have pounced on the president’s remarks.
“Donald Trump has never bought his own groceries or filled up his own tank,” Representative Diana DeGette said.
“Of course he ‘loves inflation.’”
Senator Raphael Warnock asked if Trump “could be any more out of touch?”
“It’s almost like this president is trying to make your life more expensive,” he said.
His comments come after another poorly received comment from Trump last month about the economy.
The president was asked by a reporter if he was motivated to make a deal with Iran because of the financial situation of Americans.
A sticker of Donald Trump placed on a petrol pump at a service station in the swing state of Georgia. AP Photo/Ravi Nessman
“Not even a little bit,” he replied.
“The only thing that matters when I’m talking about Iran — they can’t have a nuclear weapon.
“I don’t think about Americans’ financial situation.
“I don’t think about anybody. I think about one thing: we cannot let Iran have a nuclear weapon. That’s all.”
The Economic Policy Institute noted the latest inflation figures have knocked real wages down to below what they were when Trump was inaugurated in January last year.
Trump made curbing inflation a central part of his election campaign, criticising the Biden administration strongly on the issue.
A major part of inflation worldwide stems from the price of oil, which surged this morning after the Trump administration announced it would resume strikes on Iran.
Prices of crude oil are up more than five per cent today.
Australia’s inflation figures for May won’t be released until closer to the end of this month, but the April figures showed a 4.2 per cent rate, the same as the US number for May.