Biden suggests Putin and Russia's war in Ukraine responsible for soaring inflation in new report
CNN
President Joe Biden on Thursday suggested the new consumer price index report showing soaring inflation reflected the pinch Americans are feeling due to the Russian invasion of Ukraine and other factors.
Following the report that showed consumer prices have spiked over 7.9% over the last 12 months, Biden cast blame on Russian President Vladimir Putin's aggression in Ukraine for the rising prices. He added that the costs the US has imposed on Russia in response, including sanctions and a ban on US imports of Russian energy, are "far more devastating" than the costs Americans are facing at home.
"Today's inflation report is a reminder that Americans' budgets are being stretched by price increases and families are starting to feel the impacts of Putin's price hike. A large contributor to inflation this month was an increase in gas and energy prices as markets reacted to Putin's aggressive actions," Biden said in a statement.
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