Trump Comments on Inflation and Iranian Oil During Oval Office Remarks

On June 10, 2026, President Trump expressed approval of the recent inflation increase during a press briefing in the Oval Office. He stated, "I love the inflation" and attributed the rise to U.S. actions in the Strait of Hormuz, claiming that the U.S. has been removing millions of barrels of Iranian oil. The Consumer Price Index reported an annual increase of 4.2%, up from 3.8% the previous month, marking the highest level since April 2023. Trump mentioned that oil prices are currently around $85 per barrel, with Brent crude at approximately $94 per barrel. He indicated that he expects oil prices to rise further and highlighted the stock market reaching all-time highs. On his social media platform, Truth Social, Trump announced a military operation to support oil tankers in the Strait of Hormuz, claiming over 100 million barrels of oil have been successfully transported through the area. He expressed optimism about future negotiations with Iran regarding oil. Despite these assertions, Trump faces challenges in polling related to the economy as inflation remains a concern ahead of the midterm elections.