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Canada's Inflation Jumps to 2.4% in March — And Your Grocery and Gas Bills Show It

Canada's annual inflation rate climbed to 2.4% in March 2026 , up sharply from 1.8% in February, according to Statistics Canada data released Monday. The jump was driven almost entirely by soaring energy prices tied to the U.S.-Iran conflict and its disruption of oil flows through the Strait of Hormuz — and Canadians felt it directly at the gas pump and grocery store. Headline CPI (March) 2.4% ▲ Up from 1.8% in February Gasoline (monthly) +21.2% Largest monthly jump on record Grocery prices (year/year) +4.4% Up from 4.1% in February Core CPI (ex-gas) 2.2% Milder than expected Gas was the main culprit Gasoline prices surged a record 21.2% month over month in March — the largest single-month jump ever recorded in Canada — as the U.S.-Iran conflict choked off roughly one-fifth of the world's oil supply through the Strait of Hormuz. On a year-...
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Canada’s Economy Shows Signs of Growth in August After Flat July



According to Statistics Canada, the Canadian economy experienced stagnation in July, with a zero percent growth rate. The service sector expanded slightly, while goods-producing industries shrank. Economists had anticipated a slight expansion of about 0.1 percent. However, the manufacturing sector contracted by 1.5 percent, marking its largest decline in over two years.

In August, the Canadian economy showed signs of growth. Real gross domestic product (GDP) rose by 1.2 percent, marking the fourth consecutive month of growth following the steepest drops on record in March and April due to pandemic lockdowns. Although August’s figure was lower than July’s 3.1 percent expansion, it still indicates a positive trend in economic recovery.

Please note that these figures are subject to change as new data becomes available.

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