Biden: 'Things are a hell of a lot better' this year, despite inflation surge

President Biden said Tuesday that "things are a hell of a lot better" in the U.S. right now than they were this time last year, despite the rampant inflation hitting Americans.

The president made the comment during a press conference on his second day at the 2021 United Nations Climate Change Conference (COP26) in Glasgow, Scotland, after a reporter noted that inflation in the U.S. is at a 13-year high and asked about how Biden plans to address the issue.

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Biden answered that "the significant reason why prices are up is because of COVID affecting the supply chain," and that the rise in gas prices since he took office "is a consequence of thus far the refusal of Russia or the OPEC nations to pump more oil."

"This year, we're working on a supply chain issue," the president acknowledged. "Last Thanksgiving, I sat down with my wife, my daughter and my son-in-law. This Thanksgiving, we're all in a very different circumstance."

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"Things are a hell of a lot better, and the wages have gone up higher, faster than inflation," Biden argued. "And we have generated real economic growth. It doesn't mean these dislocations aren't real. They do affect people's lives."

The president went on to say that his administration would be looking into the "gouging that occurs in some of the pricing of beef and chicken and other things," adding, "we're going to look at whether or not there's a violation of antitrust laws in what they're doing."

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Biden concluded, "The bottom line is that I think that anyone who would prefer – as bad as things are in terms of prices hurting families now – trade this Thanksgiving for last Thanksgiving."