Credit Card Debt Increases Nationwide As Inflation Soars

As inflation soars, new data shows that many Americans are charging their credit cards more. Credit card debt has jumped 13 percent in one year, the biggest increase in 20 years. While balances still remain below pre-pandemic levels, interest rates could soon soar to record highs as the Fed continues to hike rates. Meanwhile, the White House is noting some inflation relief with gas prices now averaging $4.16 per gallon. » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC » Watch more NBC video: http://bit.ly/MoreNBCNews NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We deliver the best in breaking news, live video coverage, original journalism and segments from your favorite NBC News Shows. Connect with NBC News Online! NBC News App: https://smart.link/5d0cd9df61b80 Breaking News Alerts: https://link.nbcnews.com/join/5cj/breaking-news-signup?cid=sm_npd_nn_yt_bn-clip_190621 Visit NBCNews.Com: http://nbcnews.to/ReadNBC Find NBC News on Facebook: http://nbcnews.to/LikeNBC Follow NBC News on Twitter: http://nbcnews.to/FollowNBC #NBCNews #Inflation #Debt

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