Trump: stopping Iran’s nukes ‘only thing that matters’

President Donald Trump told reporters on the tarmac before his flight to Beijing that preventing Iran from obtaining a nuclear weapon is ‘the only thing that matters.’ He added he was not considering Americans’ financial pain as he pursued diplomacy.

April’s CPI (Consumer Price Index) rose 3.8% year over year, the highest annual reading in three years. Core CPI, which excludes food and energy, increased 2.8%.

Energy was a major contributor. The energy index climbed 3.8% and gasoline prices rose 28.4% over the past year. Data cited by officials show U.S. consumers have spent roughly $37.6 billion more on fuel since February.

The food index rose 3.2% annually. Officials pointed to higher fertilizer costs and disruptions in shipping routes, including the closure of the Strait of Hormuz, as factors that raised transportation and grocery bills.

Trump linked the higher energy costs to what he described as ‘the war’ and to closures of key shipping lanes. He predicted that ending the conflict would reduce oil prices and could lift stock markets.

When asked whether he factored U.S. household pain into bargaining over Iran, he replied, ‘I don’t think about Americans’ financial situation. I don’t think about anybody. I think about one thing: we cannot let Iran have a nuclear weapon. That’s all.’ He also said inflation had been 1.7% in the months before the conflict and warned that allowing Iran to acquire a weapon would be ‘stupid.’

The remarks came ahead of a planned meeting with Chinese President Xi Jinping in Beijing. The visit is expected to address trade and regional security.

The April CPI reading exceeded some market forecasts. Policymakers will watch whether energy and food prices ease if regional tensions and supply-chain bottlenecks subside.