White House: Inflation Hike Amid Iran Conflict Is Temporary
New Department of Labor statistics indicate inflation rose sharply amid the United States’ military campaign against Iran, but the White House argues the rise in costs will only be temporary.
“President [Donald] Trump has always been clear about short-term disruptions as a result of Operation Epic Fury, disruptions that the Administration has been diligently working to mitigate,” White House spokesman Kush Desai wrote in a Friday statement on the March inflation report.
The report suggests the consumer price index—the benchmark price of a bundle of common consumer goods—was 3.3% higher than a year before.
This annualized rate of inflation is a 0.9% uptick from the 2.4% rate in February.
Core inflation—which excludes the volatile categories of food and energy—is up 2.6% year-over-year, a 0.2% increase from February.
Desai argued the report paints an overall positive picture of the economy amid volatility in energy costs.
“Although gas and energy prices are seeing volatility, prices of eggs, beef, prescription drugs, dairy, and other household essentials are falling or remain stable thanks to President Trump’s policies,” Desai said.
He added, “As the Administration ensures the free flow of energy through the Strait of Hormuz, the American economy remains on a solid trajectory thanks to the Administration’s robust supply-side agenda of tax cuts, deregulation, and energy Abundance.”
Operation Epic Fury, the joint U.S.-Israeli operation in Iran, commenced on Feb. 28, meaning the report should reflect wartime price shocks. Traffic through the Strait of Hormuz, a key oil waterway, has been stalled ever since.
Democrats are likely to attack Republicans for the inflation numbers as midterms approach.
“Skyrocketing inflation, the highest in years, all because of Donald Trump’s unnecessary, ill-planned, reckless war of choice,” Senate Minority Leader Chuck Schumer, D-N.Y., said in a post on X.
“It’s another reason we must end this war now. Americans are paying the price for Trump’s idiocy every day.”
Both Schumer and House Minority Leader Hakeem Jeffries, D-N.Y., have announced they intend to advance war powers resolutions to force Republicans to support or oppose Trump’s authority to continue the Iran operation.
