Americans blame their debt on inflation more than their own spending

Americans carrying more debt have plenty of possible culprits to blame, from impulse purchases to emergencies to years of high credit card interest rates.Increasingly, though, consumers are pointing to something more basic: the cost of everyday life.According to a study by Accredited Debt Relief titled “Debt by Generation in 2026: How Borrowers of Different Ages Are Coping,” 78% of survey respondents said inflation is the number one reason they are carrying more debt.

That includes respondents from every generation, from Gen Z to Boomers.Those responses do not prove that inflation caused any particular household’s debt.Spending decisions, medical bills, job losses and unexpected expenses can all push people into the red.

But government data and other consumer surveys provide evidence that rising costs are putting pressure on household budgets, especially among people already struggling financially.Inflation slowed substantially from its post-pandemic highs by 2024, but starting in 2025 and accelerating in 2026, inflation has steadily increased.The Consumer Price Index increased 3.4% during the 12 months ending in August 2026, according to the Bureau of Labor Statistics.

Food prices increased 2.7% over that period, while shelter costs rose 3.0%.And wages have not kept up with inflation.The BLS reported that real average hourly earnings, which measure pay after adjusting for inflation, declined 0.3% from August 2025 through August 2026.

Real average weekly earnings still rose 0.3% because the average workweek increased.The Federal Reserve’s 2025 Survey of Household Economics and Decisionmaking, released in May 2026, found that 58% of adults said changes in the prices they paid had made their financial situation worse.Price increases remained the most commonly reported financial concern.A separate U.S.

News & World Report survey of 1,200 consumers, conducted in June 2026 through PureSpectrum, found that 57% said inflation and rising costs had caused th...