You will see the golden age of America when this war ends, and you are seeing it now.

I don’t think about Americans’ financial situations. I don’t think about anybody.

I think about one thing: we cannot let Iran have a nuclear weapon. That’s all.

Iran’s leaders will either do the right thing, or we will finish the job.

We and China are the two superpowers of the world.

We have Iran very much under control.

We are either going to make a deal, or they're gonna be decimated. One way or the other, we win.

Every American understands that Iran cannot have a nuclear weapon.

If the stock market goes up or down a little bit, the American people understand.

The Consumer Price Index jumped from 2.4% before the conflict started in February to 3.3% in March, and now 3.8%, driven largely by energy costs up 3.8% in a single month. The core index—stripping out food and energy—also rose, reaching 2.8%.

Fuel costs have bled into airline fares, up 2.8%, and into the cost of goods transported by truck or ship. Grocery prices have climbed 2.9% over the past year, with beef rising on smaller cattle herds and tomatoes surging nearly 40% due to tariffs, severe weather, and higher fuel costs.

RSM projects inflation may peak at or above 4.5% this summer as the supply shock works through the economy. Real wages have started falling again—adjusted for inflation, hourly earnings dropped 0.5% in April, the second straight monthly decline.

The White House acknowledged the war’s consequences but pointed to Trump's actions on drug pricing, arguing those costs have fallen. Spokesman Kush Desai said the administration remains "laser-focused on delivering growth and affordability on the home front while working to eliminate the Iranian nuclear threat."

The hotter-than-expected inflation data weakens the case for Federal Reserve interest rate cuts this year; many analysts have already pushed their forecasts for cuts into 2027.