Inflation levels have risen by 7 percent in the last 12 months, marking a 40-year high for the country.
, marking a 40-year high for the country. Biden initially suggested last year that rising prices were a direct result of the coronavirus pandemic, and that the issue would only be temporary. However, the president has since appeared to walk back on that analysis and has instead shifted the blame to large corporations and supply-chain issues, according to the Associated Press.
"Today's report—which shows a meaningful reduction in headline inflation over last month, with gas prices and food prices falling—demonstrates that we are making progress in slowing the rate of price increases," the president said in a statement."At the same time, this report underscores that we still have more work to do, with price increases still too high and squeezing family budgets.
A majority of Americans say President Joe Biden is not doing enough to address record-high inflation levels, according to a new poll. Here, Biden delivers remarks at the White House on December 6, 2021 in Washington, D.C.insisted Sunday that inflation issues would also be addressed better if Congress passes Biden's Build Back Better legislation.
"The inflation issue is real. We've got to tackle it. Some of the inflation is related to the continuing pandemic, which has disrupted supply chains.
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