Americans aged 40 to 59 now account for 49.9% of all new consumer bankruptcies, the largest share for that age bracket since the first quarter of 2017, according to data shared by The Kobeissi Letter. Within that group, consumers aged 40-49 made up 26.8% of new bankruptcies, the highest share for that age group since the third quarter of 2015 and the largest of any single bracket, while the 50-59 group accounted for another 23.1%. The combined 49.9% remains below the 54.3% peak recorded in the fourth quarter of 2011 following the financial crisis. Americans 70 and older now make up 21.5% of new bankruptcies, their largest share since the second quarter of 2017, while adults aged 18-29 account for just 5.9%, their lowest share since mid-2014. Household debt is climbing across the board, with credit card and auto loan balances each rising 1.7% in the second quarter of 2026 and home equity lines of credit up for a 17th consecutive quarter, according to the Federal Reserve Bank of New York, while 10.6% of student loan balances are now 90 or more days past due. U.S. annual inflation held at 3.4% in August, matching July, with gasoline jumping 3.9% and accounting for more than a third of the monthly increase, and the national average for gas hit $4.32 a gallon Monday while diesel climbed to a record $6.23 a gallon amid intensifying conflict in the Middle East, according to AAA. Costco Wholesale Corp. this week raised prices on its private-label motor oil and capped purchases at two units per member per week as rising crude oil costs ripple through the auto care aisle.
Costco Wholesale CorpCostco raised prices on its private-label motor oil and capped purchases at two units per member per week as rising crude costs ripple through the auto care aisle.
