Inflation Spikes at the Fastest Rate in Three Years Thanks to Trump’s War of Choice in Iran
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Skyrocketing energy costs were the biggest driver of the jump in inflation
Gallup: Worries about energy costs are up by 10 percentage points since last year, the highest level since 2008, and tie housing as the second biggest affordability concern
Washington, DC – As Donald Trump’s war of choice in Iran continues to drag on with no end in sight, the American people are paying the price. New Consumer Price Index (CPI) data shows that inflation spiked by 4.2% over the last year, rising at the fastest pace since 2023. The new numbers come as congressional Republicans scramble to spin their disastrous economy in a desperate effort to keep their jobs. Trump has called the affordability crisis a “hoax” and insisted he doesn’t care about Americans’ financial situation.
Trump’s war of choice in Iran has effectively closed the Strait of Hormuz and brought the world’s oil supply to a grinding halt, spiking the price of gasoline and diesel to multi-year highs and driving inflation up. Electricity prices have also risen since last year as Trump and congressional Republicans take energy options off the grid, squeezing supply as demand skyrockets.
Climate Power Senior Advisor Jesse Lee issued the following statement: “From the gas pump to their utility bills, Americans are struggling to make ends meet while Trump’s big donors make billions. No wonder Trump doesn’t seem to be in any hurry to end his war. It may be a ‘Golden Age’ for Trump and his friends, but back here in the real world we’re falling behind more every day. Every Republican in Congress who voted for this war happily put their loyalty to Trump over lowering costs for their own constituents, and the American people will not forget.”
Donald Trump and Republicans in Congress have made life more expensive for Americans with their reckless energy policies:
- Since Trump took office, household electric bills have risen 16% nationally. Trump’s war of choice in Iran is sending oil, diesel, and jet fuel prices skyrocketing – yet his priority is spending $2 billion in taxpayer dollars to stop homegrown clean energy production that would protect Americans from global oil shocks.
- Since Trump took office, gas and electric utilities have raised or sought to increase bills by more than $95 billion, affecting more than 111.9 million electric utility customers and more than 56 million natural gas customers across 49 states and the District of Columbia.
- Donald Trump and Congressional Republicans started this energy crisis with their attacks on clean energy projects, and are now accelerating it with their war of choice in Iran. These canceled projects would have produced enough electricity to power the equivalent of 17 million homes.
- 84% of Americans say their utility costs have gone up over the past year, more than said the same about groceries and health care.
- Worries about energy costs are up by 10 percentage points since last year, the highest level since 2008, and tie housing as the second biggest affordability concern.