WASHINGTON – The U.S. Labor Department announced a grim report on Friday that the Consumer Price Index rose 8.6 percent over the last 12 months.
“Today’s inflation report confirms what we already know; Putin’s price hike is hitting America hard,” President Joe Biden said.
One of the reasons prices have gone up is because a handful of companies who control the market have raised shipping prices by as much as 1,000%. It’s outrageous — and I’m calling on Congress to crack down on them. pic.twitter.com/eLIdQBmskJ— President Biden (@POTUS) June 9, 2022
The president also blamed supply chain issues as he delivered remarks from the port of Los Angeles, where he is attending the Summit of the Americas.
Biden said inflation is his top economic priority as prices jumped one percent between April and May.
The average gallon of gas is nearly $5 a gallon, food prices rose 10.1 percent.
The cost of airfare, cars, and rent is also up.
“I understand inflation is a real challenge to American families,” Biden said.
Families are spending on average $341 more each month to buy the same things they did a year ago, he said.
The commander-in-chief is calling on Congress to pass new laws to help cut costs of energy bills, prescription drugs, and shipping.
Back in Washington D.C., the House Committee who is investigating the attack on the U.S. Capitol held a prime-time hearing on Thursday night.
The hearings, the committee says, will show how former President Trump was at the center of a conspiracy to overturn the 2020 election, and how he and his allies provoked an insurrection on the hill.
“There will come a day when Donald Trump is gone but your dishonor will remain,” Rep. Liz Cheney said.
The former President did not condemn the attack on the Capitol building. He justified it. pic.twitter.com/SLT5JfFc1f— Rep. Liz Cheney (@RepLizCheney) June 10, 2022
Florida’s two Republican Senators reacted to the findings.
“I didn’t watch it, it’s a joke – if somebody committed a crime on Jan. 6 the Justice Department should charge them,” Sen. Marco Rubio said.
Senator Rick Scott said the hearings are a narrative to keep from what’s really going on which he said was inflation and gas prices doubling.
Lawmakers will present more evidence on Monday, part of six hearings that are set to take place this month.