President Biden on Tuesday called combating the hottest inflation in 40 years his top domestic priority as he sought to reassure Americans over sky-high consumer prices, which have become a major political liability for Democrats.
“I want every American to know that I’m taking inflation very seriously,” Biden said in remarks from the White House. “It’s my top domestic priority.”
American consumers are grappling with the hottest inflation in a generation, with the consumer price index climbing 8.5% in March from a year ago, according to a Labor Department report released last month, marking the fastest increase since December 1981. The CPI – which measures a bevy of goods, ranging from gasoline and health care to groceries and rents – jumped 1.2% in the one-month period from March.