United States President Donald Trump sparked reactions from the public and political opponents after stating that he \u201cloves inflation,\u201d even though new economic data show that the annual inflation rate has risen to its highest level since the beginning of 2023, NBC reported.<\/p>\n\n\n\n
Asked by reporters about rising prices, Trump said that he \u201cloves inflation\u201d because he expects it will, as he put it, \u201ccollapse\u201d after the current war ends, referring to geopolitical tensions and energy flows connected to the Strait of Hormuz.<\/p>\n\n\n\n
His statement drew sharp criticism from Democrats, including Senate Majority Leader Chuck Schumer and Senator Elizabeth Warren, who accused him of ignoring the rising cost of living for citizens.<\/p>\n\n\n\n
Trump later explained that his words had been \u201ctaken out of context,\u201d claiming that inflation is not higher than expected and that prices will fall after the conflict ends.<\/p>\n\n\n\n
According to published data, annual inflation rose to 4.2 percent, while real wages declined, further increasing pressure on households.<\/p>\n\n\n\n
Economists warn that inflation continues to outpace wage growth, reducing purchasing power.<\/p>\n\n\n\n
Criticism also came over Trump\u2019s previous statements on the economy, including claims that reducing inflation is one of the key goals of his policy, as well as promises to lower energy prices.<\/p>\n\n\n\n
An NBC poll showed that the economy, particularly inflation, is a major concern for voters ahead of the November midterm elections.<\/p>\n\n\n\n
In April, 32 percent of Americans said they approved of Trump\u2019s handling of inflation, while 68 percent said they disapproved.<\/p>\n\n\n\n
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