Trump Defends Rising Prices, Says Inflation Will Ease After Iran Conflict Ends

U.S. President Donald Trump has described the recent rise in consumer prices as a temporary development, saying he is not concerned about the increase in inflation and expects prices to fall once the ongoing conflict with Iran comes to an end.

Speaking about the latest inflation figures, Trump responded to questions about whether rising prices could hurt Republicans in the upcoming midterm elections by saying, “I like this inflation.”

According to the report, inflation in the United States accelerated in May, marking the fastest pace of price growth in three years. The increase has been linked to higher energy costs and disruptions affecting global supply chains.

Trump also said he had approved a military plan aimed at allowing U.S. oil tankers to move through the Strait of Hormuz despite regional tensions. He described the decision as successful and said it had been the right course of action.

Discussing the conflict with Iran, the president argued that global oil prices would quickly return to previous levels once the war ends. He said the closure of the strategic waterway by Iran had contributed to higher gasoline and consumer goods prices, which in turn increased inflationary pressures in the United States.

The rise in prices could complicate efforts by the U.S. Federal Reserve to reduce interest rates. Although Trump has repeatedly called for lower rates to reduce borrowing costs and stimulate economic activity, persistent inflation may encourage the central bank to maintain a cautious approach.

The issue is expected to play a significant role in the upcoming midterm elections, where Republicans are seeking to retain control of both chambers of Congress. Analysts note that the cost of living remains a major concern for voters and could influence electoral outcomes.

Inflation was one of the central issues during the 2024 presidential election campaign, with Trump pledging to bring prices under control. Critics argue that continued increases in living costs during his second term have contributed to a decline in public approval ratings.

Meanwhile, diplomatic efforts to reopen the Strait of Hormuz and restore normal trade flows have reportedly stalled. Analysts warn that oil prices could rise further in the coming weeks, creating additional risks for global financial markets.

Experts also caution that even if a political agreement is reached soon, it could take several months for shipping and supply chains to return to normal. As a result, market volatility may persist throughout 2026, potentially reducing the purchasing power of American consumers.

The report also cited earlier remarks by Trump regarding the economic difficulties facing ordinary Americans. Emphasizing his administration’s security priorities, he said preventing Iran from obtaining nuclear weapons remained his primary concern.