(QUEEN CITY NEWS) — More Americans are putting everyday purchases on their credit cards, as inflation continues to grow.

Increasing prices can be felt in nearly every sector of the economy.

“Rent is ridiculous,” a man said while on lunch break in Uptown.

From the grocery store to the pump and helping a relative – Americans are spending more.

“I have two sons that I am helping.  They are in their 50’s and I am helping them,” a man said while walking in Uptown,

Inflation is impacting how people are paying for those purchases.  Many are turning to their credit cards.

“When the cost-of-living increases, the people that feel it the most are the middle to lower class, because they are things that we have to spend our money on.  We can’t not buy food, we can’t not by gas to get back and forth from work,” Certified Financial Education Instructor Markia Brown.

Between April and June, credit card balances increased by $46 billion.   The new data by the Federal Reserve shows a near six percent increase compared to early 2022.

“It’s so exciting when you qualify for a new card or you get that pre-approval in the mail, but what a lot of people weren’t paying attention to was the interest rate associated with these cards,” Brown said.

Brown has seen more clients in needing help handling their debt in recent months.

“Not just with repair but more so with people who are in a bind and have no idea what to do,” Brown said.

In an attempt to fight inflation, the Federal Reserve has raised interest rates at least four times this year.

The move, while having no major impact on prices, is costing those already in debt more money to get out of it.

“It hits the pocket pretty hard.  I’m a big guy, I like to eat too. It’s definitely a hit of the pocket both ways; mentally so it’s pretty bad here right now,” Rock Hill resident Jeffrey Pearsall said.

The average credit card interest rate is about 18 percent.

“It’s here, so how do we get out of it?  It’s really important to talk about budgeting.  It’s really important to talk about where you can cut corners to save in other areas to increase your spending in the non-negotiables.  It’s not a surprise and it sucks, but instead of harping on what used to be, we have to get used to the new normal now,” Brown said.  “A lot of people are going to get even deeper in the whole after the holidays and so I definitely expect those numbers to rise dramatically.”