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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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Canadian stocks edge higher as oil prices lift energy sector, U.S. markets soar to new highs

 

The S&P/TSX composite index closed up 18.82 points, or 0.09 per cent, at 20,173.35 on Friday, as energy stocks gained 1.6 per cent on higher oil prices. The Canadian dollar traded for 79.69 cents US compared with 79.52 cents US on Thursday.

Meanwhile, U.S. markets rallied to record levels, boosted by strong earnings reports and economic data. The Dow Jones industrial average rose 448.23 points, or 1.3 per cent, to 35,061.55, the S&P 500 index added 48.73 points, or 1.1 per cent, to 4,411.79 and the Nasdaq composite increased 142.13 points, or 0.9 per cent, to 14,836.99.

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