Neil Roets, CEO of Debt Rescue and a consumer debt specialist, said the
speed of the increases was making it increasingly difficult for households
to adjust their budgets. “It is just not possible for family budgets to absorb
repeated large increases such as these over such a short period of time.
For many already financially distressed households, increases of this
magnitude can be the point at which an already stretched monthly
budget becomes unsustainable,” he warned. He said households could be
forced to make difficult choices between essential expenses, while some
may increasingly rely on credit to cover basic living costs.
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