Joe Biden blames high US inflation on COVID’s effect on supply chain

President Joe Biden has said that the high inflation in the US is due to COVID-19.

"The significant reason why prices are up is because of COVID affecting the supply chain," he said at a press conference at the United Nations Climate Change Conference (COP26) in Glasgow, Scotland.

He was responding to a reporter who noted that besides gasoline prices, the cost of everyday items are up and inflation in the country is at a 13-year high.

"So when specifically should Americans expect those prices to come down?" asked the reporter.

The president said his administration is working on the supply chain issue this year.

On the increase in gasoline prices, Biden blamed Russia and oil producing nations.

"That is a consequence of thus far the refusal of Russia or the OPEC nations to pump more oil," he added.

The annual inflation rate is 5.4 percent for the 12 months that ended September after increasing 5.3 percent previously, according to the Labor Department.

But Biden argued that "things are a hell of a lot better, and the wages have gone up higher, faster than inflation. And we have generated real economic growth.”

"It doesn't mean these dislocations aren't real. They do affect people's lives," he added.