Fez – US inflation accelerated in May, reaching its highest level in three years, as rising energy costs and global tensions continued to weigh on consumer prices.
New government data showed that consumer inflation climbed above 4%, renewing concerns about the impact of higher prices on households and the broader economy.
The increase comes at a politically sensitive time, just months before the US midterm elections.
Speaking to reporters on Wednesday, US President Donald Trump reacted to the latest figures by saying he “loved” inflation, while maintaining that prices would decline once the war in the Middle East comes to an end.
Trump argued that the current rise in inflation is largely linked to disruptions in global oil supplies caused by the war.
According to the president, energy markets will stabilize after the war ends, helping ease price pressure across the economy.
His remarks come as some Republican lawmakers worry that persistent inflation could become a major issue for voters ahead of the November elections.
Higher prices for fuel, transportation, and everyday goods have remained a key concern for many American households.
However, several analysts have warned that inflationary pressures may not disappear quickly.
They note that oil markets could remain volatile even if shipping routes through the Strait of Hormuz return to normal operations.
Continued uncertainty in global energy markets could keep fuel prices elevated and prolong inflation risks.
The latest data adds another challenge for policymakers as they seek to balance economic growth with efforts to control rising prices.
While the White House remains optimistic that inflation will ease in the coming months, economists say the outlook will largely depend on developments in the Middle East and the direction of global energy markets.
