Americans are increasingly borrowing money to cover their expenses
Americans are increasingly borrowing money to cover their expenses as inflation continues to hit household budgets nationwide. Experian analyzed how credit card usage has changed in every state and compared it to regional inflation using data from the Bureau of Labor Statistics.
Regional credit card usage was calculated by summing population-weighted state averages. Regions that saw slower growth in consumer prices saw more growth in credit card usage, according to Experian and the U.S. Census Bureau. In fact, all 50 states and Washington, D.C., saw an increase in credit card spending compared with the prior year.
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