Trump claims inflation will fall after war ends, cites oil actions

President Donald Trump told reporters in the Oval Office that he "loves" the current inflation rate, which the consumer price index showed rising to 4.2% year-over-year, a three-year high. He said the figure would improve once the war with Iran concludes, adding that the United States had recently removed "millions of barrels of oil" and targeted 22 ships at night, which he claimed helped keep oil prices at $85 a barrel.

The president’s remarks did not clarify how the alleged actions would affect consumer prices. The CPI data also indicated core inflation, which excludes food and energy costs, at 2.9% annually, matching economists’ forecasts.

White House and Energy Department comments were not immediately available. Trump's statements come as Republican lawmakers worry that rising consumer prices could impact their prospects in the upcoming November elections.

"I love the inflation. As soon as this war is over, I can say we’ve been taking out millions of barrels of oil," 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," he added.