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He promised to bring down inflation when he ran for his second term.
Prices in the United States climbed sharply in May, adding new pressure on households already facing higher daily costs.
The latest figures from the Bureau of Labor Statistics (BLS) showed inflation hitting a three-year high of 4.2%, up from 3.8% in April, the BBC and Reuters reported.
According to the BBC, inflation has not been this high since April 2023, and it is the third month in a row that the index has risen.
When reporters asked President Donald Trump on Wednesday if this spike could hurt Republicans in November, his response shocked onlookers.
“I love the inflation,” Trump said according to Reuters.
The president linked the price hikes to a secret trade strategy. He revealed that he authorized a hidden plan to move oil tankers through the Strait of Hormuz during the conflict with Iran.
Worth the cost
Trump defended the secret operation despite the financial fallout. “It was worth it to me,” he said, calling the mission a success.
The president remains confident that energy prices will plunge as soon as the war ends.
Under normal circumstances the Strait of Hormuz between Iran and Oman is a key transit for roughly 20% of all crude oil trade. Since the beginning of the war more than 100 days ago, the strait has been shut off allowing only a few ships to pass.
Voters feel squeezed
Higher prices could keep the Federal Reserve from cutting interest rates, a move Trump previously demanded to lower borrowing costs.
Meanwhile, nervous Republicans fear losing Congress. They worry a voter backlash over living costs will destroy their midterm chances.
US President Donald Trump ran on lowering inflation during his 2024 campaign for the presidency, and with inflation continuing to rise, as well as increasing public dismay over the war in Iran, the president is looking increasingly under pressure ahead of the November midterm elections.
Polls show Republicans at risk of losing control of the House of Representatives, with some polls even suggesting that control of the Senate could also be in jeopardy.
If the Republicans lose the House, it will make it very difficult for Donald Trump to push his policies in the second half of his second term as president.
A single focus
Even if a deal with Iran happens soon, experts say it will take months to restore normal supplies.
But the president made it clear that domestic financial pain is not his primary concern right now.
“I don’t think about Americans’ financial situation,” Trump stated last month. “I don’t think about anybody. I think about one thing: We cannot let Iran have a nuclear weapon.”
