President Donald Trump on Wednesday said, “I love the inflation” after being asked if he was concerned about new consumer price index data that showed the annual inflation rate at 4.2%, a three-year high.
“No, I love it, the numbers were great,” Trump said in the Oval Office, where a reporter asked him about the CPI number issued earlier in the morning.
“You know what I really love? I love the inflation. You know why?” Trump said. “Because as soon as this war is over, you know I can say it now … you know we’ve been taking out millions of barrels of oil.”
“Nobody knows it. You know who doesn’t know about it? Iran, until right now,” Trump said.
“We took out the other night, 22 ships, late at night, with no lights, because they don’t have any radar, because we blasted the crap out of it,” the president said. “That’s why oil is at $85 a barrel.”
While the CPI showed annual inflation at a three-year high, core inflation, which excludes the cost of food and energy, was at 2.9% annually. That is in line with forecasts by economists.
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