“Today’s report underscores why I have made fighting inflation my top economic priority. While it is good to see critical “core” inflation moderating, it is not coming down as sharply and as quickly as we must see. Putin’s Price Hike hit hard in May here and around the world: high gas prices at the pump, energy, and food prices accounted for around half of the monthly price increases, and gas pump prices are up by $2 a gallon in many places since Russian troops began to threaten Ukraine. Even as we continue our work to defend freedom in Ukraine, we must do more—and quickly—to get prices down here in the United States.”