Izuchukwu OkosiUNITED States of America President Joe Biden said Tuesday (early hours Wednesday in Nigeria) that the rising inflation rate in the US is due to the effects of 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.
President Biden 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 revealed that 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% for the 12 months that ended September after increasing 5.3% previously, according to the Labour 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.
Izuchukwu Okosi is a Nigerian sports and entertainment journalist with two decades of experience in the media industry having begun his media journey in 2002 as an intern at Mundial Sports International (MSI) and Africa Independent Television (AIT), owners of Daar Communications Plc.
In October 2004, Okosi joined Complete Communications Limited, publishers of Complete Sports newspaper and Complete Football magazine as a reporter and later script writer for the Complete Sports studio.
He worked there for 13 years until October 2017.
Okosi also worked various times as Correspondent, Content creator and Editor at Sports Market International Magazine, Opera News, All Nigeria Soccer Media and Iconic Media Watch.
He also undertook freelance writing gigs for some local and international organizations.
Okosi is a member of the Actors Guild of Nigeria (AGN), Association of Movie Producers (AMP), Association of Voiceover Artistes of Nigeria (AVOA), Sports Writers Association of Nigeria (SWAN) and Nigeria Union of Journalists (NUJ).
He has been part of cast in some Nollywood movies and radio dramas including Blood Money 2, Scores To Settle, Dead End 2, Another Campus Tale and Battle Line.
Aside mainstream media and the entertainment industry, he has interests in scouting/unearthing of talents in the sports and creative sectors, exports business and property development.
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