Biden: "Last Month About 70% of the Increase in Inflation was a Consequence of Putin's Price Hike”

Inflation data was last month about 70% of the increase in inflation was a consequence of Putin's price hike, because of the impact on gas and energy prices," he said.

The trip comes as the White House grapples with persistent global supply chain issues that have been driving up prices for American families. A recent report showed consumer prices hit a new 40-year high in March, and much of that jump was driven by rising gasoline and food prices. These problems are only getting worse amid Russia's invasion of Ukraine and as parts of China implement lockdowns due to a fresh spike in Covid-19 cases.