Trump responds to rising inflation
May 12, 2026
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2:24Now PlayingTrump responds to rising inflation
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as posted by the channelPresident Trump defended his policies Tuesday after the Labor Department reported inflation had hit its highest level in three years, with the president calling it a “short term” rise due to the war in Iran.
“As soon as this war is over, which will not be long, you’re going to see oil prices drop and you’re going to see the stock market, which is already at the highest point in history, go through the roof. You’re going to see the golden age of America,” he told reporters before departing for a trip to China.
The Consumer Price Index (CPI) rose 3.8% in April from a year earlier, a sharp jump driven largely by energy costs due to the closure of the Strait of Hormuz. CPI was 3.3% in March and 2.4% before the war started in February.
“You have hundreds of ships that are loaded up with oil that want to come out,” President Trump said. “As soon as they come out, we’re going to have a gusher of oil and you’re going to have inflation that goes way down.”
“Core” inflation, which strips out more volatile food and energy indexes, also rose 2.8% over the year ending in April — up from 2.6% in March.
#potus #inflation #iran #cspan
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