Published on 11/06/2026 - 8:29 GMT+2•Updated 9:18

US President Donald Trump on Wednesday seemed pleased with new figures showing inflation climbing to a yearly rate of 4.2 percent in May. He told reporters he loves the inflation.

Costs have increased notably in recent months due to the US conflict with Iran. Tehran's shutdown of the Strait of Hormuz has disrupted global trade. Inflation moved up from 2.4 percent in February before the fighting began to 3.3 percent in March and 3.8 percent in April.

Addressing the latest numbers at the White House on Wednesday, Trump appeared calm and stated that Washington keeps shipping oil through the Strait of Hormuz in secret. This route ranks among the key points for oil and gas movement worldwide.

"No, no I love it. The numbers were great," he said. He added that the US had removed millions of barrels of oil without Iran's awareness.

"We took out the other night 22 ships late at night with no lights, because they don't have any radar," he went on. "That's why oil is $85 a barrel."

Trump, who won office partly by promising to fight inflation, also remarked that he anticipated the war would impact stock markets. Yet he insisted the action was justified.

"I hate to do this to you guys but Iran's going to have a nuclear weapon very soon. We have to go and attack," he said regarding his choice to launch military strikes.

The US Bureau of Labor Statistics report notes that energy prices rose 23.5 percent over the past year while gasoline increased 40.5 percent.

Higher costs are likely to feature prominently ahead of November's midterm elections that will shape Congress.

In response to Trump's remarks on inflation via social media, US Senator Bernie Sanders stated: "You know who doesn't love inflation, Mr. President? Working families struggling to afford gas, groceries and other necessities because of your disastrous actions".