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Rising borrowing costs add to consumer financial strain

Original: The rising cost of borrowing piles more financial pressure onto consumers

Higher borrowing costs are adding fresh pressure to household budgets, with lenders charging more for credit, loans and mortgages. Consumers already coping with elevated prices for everyday goods now face more expensive debt, deepening worries about household finances and spending power.

Why now: Interest rates remain high and households are feeling the squeeze on credit and debt repayments.

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Evidence

• The rising cost of borrowing piles more financial pressure onto consumers · NPR

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