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 others could may increasingly rely on credit to
cover basic living costs.
Read the full article here.