Biden says inflation ‘top priority’ as US prices hit 30-year high

Biden says inflation ‘top priority’ as US prices hit 30-year high

President Joe Biden has made fighting US inflation his "top priority" after government data Wednesday showed it reached a 30-year high last month, underscoring the continued threat to his presidency and the economic recovery. The sharp spike in the consumer price index (CPI) reported by the Labor Department surprised economists and the White House alike, and came as Biden headed to Baltimore to promote the $1. 2 trillion infrastructure overhaul he argues can turn the tide. "Inflation hurts Americans' pocketbooks, and reversing this trend is a top priority for me," Biden said after the report was released. "I am travelling to Baltimore today to highlight how my infrastructure bill will bring down these costs, reduce these bottlenecks and make goods more available and less costly." Inflation had remained muted in recent years, but roared back with a vengeance in 2021 as American businesses began resuming normal operations with the help of Covid-19 vaccines. Prices were pressured by high demand from consumers flush with cash, combined with shortages of US workers and snarls in supply chains worldwide that slowed deliveries of crucial components such as semiconductors. While Biden has argued that the increases will prove temporary, they have given his opponents