WASHINGTON — Donald Trump said Tuesday that rising inflation in the United States is temporary and linked it to the ongoing conflict involving the United States, Israel and Iran, as new data showed consumer prices increasing 3.8 percent year-on-year.
Trump made the remarks to reporters hours after the latest inflation figures were released, describing the increase as short-term and attributing higher energy costs to the conflict.
The war, which began on Feb. 28, has disrupted the Middle East, including shipping through the Strait of Hormuz, a key route for global oil and gas supplies. The disruption has contributed to rising energy prices.
Data from the American Automobile Association showed that the average price of a gallon of regular gasoline in the United States has increased by about 51 percent since the start of the conflict.
The Federal Reserve maintains a long-term inflation target of 2 percent, a level it has not achieved in more than five years. Inflation last peaked at 9.1 percent in 2022.
When asked whether economic concerns influenced his approach to Iran, Trump said his priority was preventing the country from obtaining nuclear weapons.
