Trump Falsely Claims Inflation Was 1.7% Before Iran War, Actual Rate Was 2.4-3.8%

On May 12, 2026, President Trump falsely claimed that inflation was running at 1.7% in the months before the Iran war, stating it would drop to "one and a half percent" after the war ends. Official Consumer Price Index data shows inflation was 2.7% in November and December 2025, 2.4% in January and February 2026, and had surged to 3.8% by April 2026—a three-year high. Inflation has not been as low as 1.7% since early 2021, making Trump's claim demonstrably false. When pressed about the economic hardship caused by the Iran conflict, Trump told reporters he doesn't "think about Americans' financial situation" when making Iran policy decisions, prioritizing preventing Iran from obtaining nuclear weapons over domestic economic concerns. The false inflation claim appeared designed to minimize the economic impact of his foreign policy decisions during a period of significant financial strain for Americans.

"I don't think about Americans' financial situation when negotiating with Iran, as the only thing that matters is preventing Iran from having a nuclear weapon." — Response to questions about economic hardship caused by the Iran conflict, made on the same day he falsely claimed inflation was 1.7% before the war