Biden Heads to Port of LA as Inflation Reaches 40-Year High

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On the day the U.S. inflation rate hit a 40-year high, President Joe Biden traveled to the Port of Los Angeles Friday to discuss efforts to streamline global supply chains and counter rising prices, painting the issue as a worldwide problem fueled largely by Russian aggression in Ukraine.

Speaking aboard the Battleship Iowa museum in San Pedro, Biden referred to “Putin’s Price Hike” for driving up the cost of energy and food, which he said accounted for the vast majority of 8.6% inflation rate in May compared to the same month a year ago.

“Every country in the world is getting a big bite of this inflation, worse than we are for the vast majority of countries around the world,” Biden said. “But make no mistake about it, I understand inflation is a real challenge to American families. Today’s inflation report confirmed what Americans already know. `Putin’s Price Hike’ is hitting America hard.

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