Over the past year, household debt has surged by $778 billion, as consumers have been fighting record prices.

Total household debt has risen by a whopping $7 TRILLION over the last decade.

The recent surge was driven by all categories with the largest being mortgage debt, rising $75 billion to a record $12.98 trillion.

At the same time, credit card debt jumped $24 billion to a new high of $1.17 trillion.

Americans are “fighting” inflation with debt.