White House Again Shrugs Off High Prices Amid War With Iran

Prices jumped in May for the third straight month, leaving U.S.families and businesses to suffer the sting from the war with Iran.And for the third time, the White House largely shrugged off the news, insisting that the problem was temporary — and that President Trump’s agenda was working.“No, I love it, the numbers were great,” the president told reporters on Wednesday.

“I love the inflation.”It was a familiar pattern, one that appeared to underscore the widening chasm between Mr.Trump and the majority of Americans who say they are frustrated with the direction of the economy.

The president’s comments perfectly framed both the political strategy and the stakes for Republicans entering an election season that may well hinge on the state of voters’ finances.The latest gauge of the Consumer Price Index, released on Wednesday, showed that goods overall became more expensive last month, rising 4.2 percent compared with a year earlier.That marked the fastest pace since April 2023, and as a result, offered renewed evidence that prices are rising faster than Americans’ wages.The acceleration largely stemmed from the war with Iran, which has snarled the world’s energy supply, sending oil and gas costs soaring as a result.

That, in turn, has made travel and shipping more expensive, pushing up the price of many products, including some groceries.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe....