U.S. Inflation Hits Three-Year High of 4.2 Percent in May
President Donald Trump addressed the May inflation data at an Oval Office event on 10 June 2026. He linked the 4.2 percent reading to higher energy prices tied to the Iran conflict and said the United States has removed millions of barrels of Iranian oil.
pbs.orgU.S. inflation reached a three-year high of 4.2 percent in May, according to data released ahead of the president's remarks. President Donald Trump discussed the figure during an Oval Office signing event on 10 June 2026.
Trump said the increase stemmed primarily from higher energy prices connected to the Iran conflict. He stated that the United States has been taking out millions of barrels of oil from Iran and that Tehran did not know about the action until right now. The president told reporters that oil and gas costs would decline sharply once fighting stops and normal supply flows resume.
Trump insisted that inflation will come down like a rock after the war is over. He described the reading as great and said higher prices would prove temporary. He expressed continued confidence that an agreement with Iran would be reached, which he said would allow oil markets to stabilize.
No specific timeline for a potential agreement was provided in his remarks.
