TRUMP DEFENDS INFLATION AMID IRAN WAR – U.S President says oil prices will fall once conflict ends despite inflation concerns
President Donald Trump has defended rising inflation in the United States, insisting higher prices are linked to the ongoing conflict with Iran and predicting costs will fall once the war comes to an end.
Speaking to reporters on Wednesday, Trump responded to new figures showing consumer inflation rose at its fastest pace in three years during May. Asked whether rising prices could hurt Republican prospects ahead of November’s midterm elections, the president said he was confident the situation would improve.
Trump revealed he had authorised a plan to move oil tankers through the Strait of Hormuz despite concerns it could add to inflationary pressures. He described the operation as successful and argued that oil prices would “come down like a rock” once the conflict is resolved.
The comments come as the closure of the key shipping route continues to disrupt global energy markets, driving up the cost of fuel and other goods. Economists warn prolonged disruption could keep inflation elevated and complicate efforts to lower interest rates, while Republicans face growing pressure over the cost of living ahead of the November vote.
