President Donald Trump said he was pleased with the latest inflation data after US consumer prices recorded their largest annual increase in three years.
According to the Bureau of Labor Statistics, inflation reached 4.2% in May, up from 3.8% in April. Higher energy prices, linked to tensions surrounding the US, Israel, and Iran conflict, were a major factor behind the increase.
Speaking at the White House, Trump said, "The numbers were great. I love the inflation," while also predicting prices would fall sharply once the conflict ended.
Later that day, US forces carried out airstrikes in Iran. Trump argued that military operations targeting Iran's oil sector had already helped ease oil prices and said he expected further declines when the conflict concluded.