“... credit card delinquencies are at the highest level since 1991.”
This doesn’t surprise me. With essentially no change in lifestyle, I’ve notice that my monthly credit card bills are approximately double what they were 5 years ago. This is due to approximate doubling of the costs of gasoline, groceries, health insurance, auto insurance and similar other expenses that are not easy to trim. It’s possible of course to reduce or completely stop making discretionary purchases of things like clothing, consumer electronics, vacations, new appliances, etc., and I suspect you’ll see a lot that happening soon. Recession, here we come.
And we are faced with the economist's efforts to manipulate inflation through such measures as hedonic adjustments and horizontal substitution [e.g. yeah your computer costs more, but it has all these neat new features - bloatware that doesn't actually provide any economic benefit] or well you can eat bugs for the same cost that steak used to be so there is no inflation in protein intake expenditure.