More from the article...

... "Consumers are just spending more," said Charlie Wise, senior vice president of global research and consulting at TransUnion. "Even though the inflation rate is down, that doesn't mean prices are coming down."

To be sure, prices are still rising, albeit at a slower pace than they had been.

The consumer price index -- a key inflation barometer -- has fallen gradually from a 9.1% pandemic-era peak in June 2022 to 3.4% in December 2023.

Meanwhile, households continue to show signs of strain -- more cardholders are carrying debt from month to month or falling behind on payments. ...

@#2

Yup.

The "spending consumer" that has helped to power the economy through the inflation-controlling high interest rates seems to be heading for an unpleasant short- and, mid-term.

The high interest rates are not helping those credit card balances, either. ...

My guess is that there is a distinct possibility that this will not end well.