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Biden says 'Putin's tax on both food and gas' is to blame for record-high inflation
Biden says fighting inflation is his 'top economic priority' as prices reach historic highs
By Brooke Singman FOXBusiness
President Biden said the United States "has never seen anything like Putin’s tax on both food and gas," after the Labor Department announced Friday that inflation hit a new four-decade high in May.
The Labor Department said Friday that the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rent, rose 8.6% in May from a year ago. Prices jumped 1% in the one-month period from April. Those figures were both higher than the 8.3% headline figure and 0.7% monthly gain forecast by Refinitiv economists.
It marks the fastest pace of inflation since December 1981.
The president, from the Port of Los Angeles Friday, said fighting inflation is his "top economic priority," while, again, casting blame on Russian President Vladimir Putin’s war in Ukraine for the surge in prices.
"Today I'd like to speak about my top economic priority, fighting inflation," Biden said. "I understand Americans are anxious and they're anxious."
"We’ve never seen anything like Putin’s tax on both food and gas," Biden said.
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https://www.foxbusiness.com/politics/biden-says-inflation-putins-tax-both-food-gas
