Consumer and Business Insolvencies Up Again in Canada: What's Behind the Numbers?

The Beavis Wealth Podcast

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In this episode, we discuss the rise in Canadian insolvencies, driven by high inflation and interest rates. Consumer insolvencies have increased by 3.4% since April and 11.3% since last year, while business insolvencies are up 41.7% from last year. The construction sector saw a sharp rise in business failures, highlighting the ongoing financial strain.

Also in this episode:
🛒 Changes in how Canada measures inflation, with a higher weight on food costs.
💹 Canada's inflation rate unexpectedly rises to 2.9% in May, impacting rate cut expectations.

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