Inflation Hits New High as Trump’s War With Iran Escalates

The U.S. annual inflation rate is the highest it’s been in three years—a clear consequence of President Trump’s widely unpopular, very expensive war on Iran, which drags on even as he constantly claims that he’s close to a deal.The Bureau of Labor Statistics reported on Wednesday that the consumer price index rose 0.5 percent last month, with energy costs accounting for 60 percent of that increase. The annual inflation rate is at 4.2 percent—the highest since April 2023.“Americans are getting squeezed financially by inflation that’s back at a three-year high,” Navy Federal Credit Union chief economist Heather Long told CNBC. “The frustration for many Americans is that so many of the basics are up in price right now—gas, food, electricity, and medical care are all clear pain points that are above 3 percent inflation. Ending the war in Iran will help to moderate inflation, but the worst is likely still to come for rising food prices.”Trump, for his part, has claimed that Iran will “pay the price” for not making a deal. But it’s clear at this point that Iran is willing to draw this conflict out so that American’s pockets hurt more and more every day. It’ll be a difficult sell to midterm voters with inflation at a three-year high and a cost-of-living crisis that was already dire—two issues Trump ran on solving. And it’s entirely his fault.CNN: INFLATION TOPS 4% FOR FIRST TIME IN THREE YEARS AS OIL PRICES JUMP pic.twitter.com/icTIIyDLJq— Aaron Rupar (@atrupar) June 10, 2026