'Putin's price hike in gasoline' caused 70 percent of US March inflation: Biden

Economy

Published: 2022-04-13 12:43

Last Updated: 2023-02-07 07:46


Credit: AFP
Credit: AFP

The Russian military operation in Ukraine and the resulting increase in gas prices is responsible for most of the record increase in US inflation last month, President Joe Biden said Tuesday, AFP reported.

"Seventy percent of the increase in prices in March came from (Russian President Vladimir) Putin's price hike in gasoline," Biden said during a visit to the midwestern state of Iowa, after government data showed consumer prices rose 8.5 percent over the 12 months to March.