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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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How Loblaw and Metro are coping with food price inflation and sustainability challenges

 


Two of Canada's largest grocery chains, Loblaw and Metro, have reported increased sales and profits for the third quarter of 2023, despite facing public criticism over their role in food price inflation. 

Loblaw posted a net income of $421 million, up 12% from the same period last year, while Metro saw its net earnings rise 9% to $191 million. Both companies attributed their strong performance to higher demand for food and pharmacy products amid the ongoing pandemic, as well as their investments in e-commerce and digital initiatives. 

However, they also acknowledged the challenges of rising costs and supply chain disruptions that have contributed to higher food prices for consumers. Loblaw and Metro have recently added a new title to their executive teams: Chief Sustainability Officer, who will be responsible for overseeing their environmental and social impact strategies.



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