US year-on-year consumer inflation came in at 3.8% in April, a three-year high, fuelled by energy price increases due to US President Donald Trump’s war on Iran.

On Wednesday, the government reported wholesale price inflation of 6% year-on-year, its highest level since December 2022, with analysts warning high fuel prices were beginning to have knock-on effects on other products.

“Yes, the inflation number last month was not great,” Vance told reporters at the White House.

“We know that we have a lot of work to do in order to deliver on the prosperity that the American people deserve.”

Vance said Trump was “hyper aware” of the issue. A day earlier, Trump had insisted high inflation was only “short term”.

Asked by a reporter if Americans’ financial situation motivated him to make a peace deal with Iran, Trump offered a robust response on Tuesday.

“Not even a little bit. The only thing that matters when I’m talking about Iran: they can’t have a nuclear weapon,” he said.

“I don’t think about Americans’ financial situation, I don’t think about anybody.”

Asked about the president’s statements, Vance denied the president said the words and insisted the question was a “misrepresentation” of Trump’s quote.

With campaigning for November midterm elections in full swing, Democratic Party leaders seized on Trump’s words to accuse the Republican of indifference to the soaring cost of living.