President Joe Biden attempted to put historic levels of inflation "in perspective" on Sunday, arguing that last week's inflation number was up "hardly at all" from the previous month.
When asked by CBS's Scott Pelley on 60 Minutes on Sunday what he could do "better and faster" to bring down price increases, Biden said that the 8.3% annual inflation rate revealed last Tuesday was "just an inch" higher than the previous report and that people shouldn't act shocked at the number.
"Mr. President, as you know, last Tuesday, the annual inflation rate came in at 8.3%. The stock market nosedived. People are shocked by their grocery bills. What can you do better and faster?" Pelley asked Biden, to which he responded, "Well, first of all, let's put this in perspective. Inflation rate month to month was just an inch, hardly at all ..."