(Reuters) – U.S. President Joe Biden said the January consumer price index report issued on Thursday was a reminder that the budgets of Americans are under real strain, adding that his administration was using “every tool” it has to tackle the issue.

“We have been using every tool at our disposal, and while today is a reminder that Americans’ budgets are being stretched in ways that create real stress at the kitchen table, there are also signs that we will make it through this challenge”, Biden said in a statement.

(Reporting by Kanishka Singh in Bengaluru; Editing by Chizu Nomiyama)