U.S. Inflation Rose to 4.2 Percent in May, Highest in Three Years
Consumer prices increased 4.2 percent from a year earlier. President Trump linked the rise to energy costs tied to the Iran conflict.
pbs.orgS. 2 percent in May, a three-year high. 8 percent recorded in April. President Donald Trump addressed the May data during an Oval Office signing event on 10 June 2026.
He said the rise stemmed primarily from higher energy prices connected to the Iran conflict. Trump stated that the United States has been taking out millions of barrels of oil from Iran. He said 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. He insisted that inflation will come down like a rock after the war is over. 2 percent reading.
He said, "I love the inflation," in response to a reporter's question about the three-year high. 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.
