That is quite significant and does not track with inflation.
Yeah, but total household debt only grew 7%, which approximately tracks with inflation. Similarly, inflation is measured over a basket of goods, some of which grow in price more slowly than others -- not exclusively the goods paid for on credit cards.
Perhaps,but not surprising given the prevailing interest rate situation. I got multiple offers on my CCs to lower the APR to 0% for 12-18 months. At that point it's financially better to carry a balance, throw the cash in a HYSA and pay it off in 2024. My Own CC balance has grown by like 600%
Yep. A consequence of decades of low inflation is that most people still think in nominal terms. Otherwise they would be calling out journalists for these silly hesdlines