President Joe Biden released a statement on Thursday, blaming Vladimir Putin’s invasion of Ukraine for catalyzing price inflation, which the most recent Consumer Price Index (CPI) report indicates is at its highest annual level in over forty years.
“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,” said Biden in the statement. “A large contributor to inflation this month was an increase in gas and energy prices as markets reacted to Putin’s aggressive actions. As I have said from the start, there will be costs at home as we impose crippling sanctions in response to Putin’s unprovoked war, but Americans can know this: the costs we are imposing on Putin and his cronies are far more devastating than the costs we are facing.”
