PREVIEW

Trump Defends Rising Inflation as US Prices Hit Three-Year High. US inflation climbed to 4.2% in May, the highest level in three years, driven largely by soaring energy costs linked to the ongoing conflict involving Iran. Despite the increase, President Donald Trump sparked controversy by telling reporters he “loves the inflation,” arguing that economic figures were stronger than expected. He later clarified that he meant inflation was lower than many had predicted, not that rising prices were a good thing. Trump insisted fuel costs would fall sharply once the conflict ends, pointing to military actions aimed at disrupting Iran’s oil exports. However, oil prices remain well above pre-war levels, while the average US gasoline price has surged above four dollars per gallon. The inflation jump has intensified pressure on the Federal Reserve ahead of its next interest rate decision with some economists warning that persistent price increases could force policymakers to raise rates in the months ahead.
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