A rise in inflation to a three-year high was largely anticipated and tied to higher energy-related costs stemming from the conflict with Iran, and should ease once tensions in the Middle East subside, Rep. Dan Meuser told Newsmax on Wednesday.
"Once we, in fact, wind down the Iran conflict, fertilizer costs, everything related to energy will be reduced, and we should get back in the range of CPI being at 2.7%," the Pennsylvania Republican told Newsmax’s "Wake Up America."
The Consumer Price Index increased 4.2% in the 12 months through May, marking the largest annual gain since April 2023, the Labor Department’s Bureau of Labor Statistics said Wednesday.
The increase marked the fastest pace in three years, with the Middle East conflict contributing to higher gasoline and energy prices.
While acknowledging the inflation report was "certainly not positive," Meuser said the figure matched expectations and was unlikely to significantly impact financial markets.
"It came in as estimated, won’t affect markets much," he said. "It could affect putting off an interest rate reduction for a little bit."
Meuser pointed to broader economic indicators as signs of strength.
"Our economy is doing very, very well," he said. "Consumer demand is up. Businesses are doing well. Profitability is coming in. Tax revenues are more cash in people’s pockets. Our economy is certainly growing versus the rest of the world. We’ve got a lot of good things happening."
Meuser contrasted the current inflation environment with that under former President Joe Biden.
"Under the Biden administration, the extreme spending, the monetary actions of the Fed and the domestic assault on American energy drove inflation to 9%," Meuser said.
Source:
https://www.newsmax.com/newsmax-tv/dan-meuser-iran-inflation/2026/06/10/id/1259181/