U.S. President Joe Biden reacted to a 40-year record inflation and price increases due to Russia's invasion of Ukraine. The head of the White House called on Congress to pass legislation that would help Americans resist the price increases. This is reported on the White House website.
Biden noted that the price hikes due to Russian President Vladimir Putin's aggression were a powerful blow in May for many countries.
The president said U.S. residents are paying a "Putin tax" on food and gasoline.
"High gasoline, energy and food prices accounted for about half of the monthly price increases. As we continue our efforts to protect freedom in Ukraine, we must do more and quickly to bring prices down here," he said.
Biden called fighting inflation "the top economic priority."
He urged members of Congress to urgently undertake the necessary procedures to create tax reform for the wealthiest Americans and large corporations.
