President Donald Trump sparked immediate controversy Wednesday after declaring, “I love the inflation,” while responding to questions about a new government report showing a significant increase in consumer prices.

Speaking with reporters, Trump dismissed concerns about the latest inflation figures and argued that the economic data remained encouraging despite the ongoing conflict with Iran.

“No, I love it. The numbers were great,” Trump said when asked if he was concerned about the latest data, which showed the consumer price index rising to 4.2 percent over the past 12 months — with an increase of 0.5 percent in May alone, according to the Labor Department.

The president then elaborated on his remarks, linking rising energy prices to recent U.S. military actions targeting Iranian assets.

“I love the inflation,” the president continued, noting how the U.S. recently took out millions of barrels of oil and 22 ships from Iran. “That’s why oil is $85 dollars a barrel.”

Trump acknowledged that the conflict has created economic headwinds but insisted that national security concerns had to take precedence over short-term economic considerations.

He argued that the American economy had reached unprecedented heights before the war began and maintained that preventing Iran from acquiring nuclear weapons was a more pressing priority.

“We had just hit the highest stock market in history, highest 401k’s in history,” Trump said from the Oval Office. “Everything was going well, and I said I hate to do this to you guys but Iran’s going to have a nuclear weapon very soon. We have to go and attack.”

The inflation report released by the Labor Department showed that energy costs continued their upward climb in May. According to the data, energy prices rose 3.9 percent during the month after increasing 3.8 percent in April and 10.9 percent in March.

Despite the latest surge in prices, Trump and senior administration officials have continued to predict that inflation and fuel costs will decline sharply once hostilities in the Middle East subside.

For now, however, the outlook remains uncertain. Although a ceasefire remains technically in place, continued exchanges and military activity have fueled concerns that instability in the region could persist for the foreseeable future.

Trump’s critics have seized on several recent comments he has made regarding the economy during the conflict, including previous remarks indicating that concerns about Americans’ personal finances were not at the forefront of his thinking while negotiating with Iran. His latest comments about inflation are likely to add further fuel to that debate as economic concerns continue to weigh on voters.

{Matzav.com}