With surging prices undermining wage gains and hurting American families, U.S. President Joe Biden has said that fighting inflation is his top priority, but he may have limited tools to tackle the issue.
Biden, whose popularity has taken a hit amid the highest inflation in four decades, spoke on the eve of the release of the latest consumer price data, in an effort to get out ahead of more damaging news.
The flare-up in inflation means Americans are paying more for homes, cars and food, and for gasoline, which hit a record on May 10.
While economists believe the surge may have peaked in March, the pain is likely to last for months.
“I want every American to know that I’m taking inflation very seriously, and it’s my top domestic priority,” Biden said at the White House.
“I know that families all across America are hurting because of inflation.”
The U.S. president put much of the blame for the recent spike on Russian leader Vladimir Putin and his invasion of Ukraine.
Hurriyet Daily News