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Canada’s Inflation Climbs to 2.4% as Gas Prices Surge to Record High

  Canada’s inflation rate accelerated to 2.4% in March , up from 1.8% in February, as the Iran war triggered the largest monthly gasoline price increase on record . Statistics Canada reported that gas prices surged 21.2% month‑over‑month , a supply‑shock response to Iran’s closure of the Strait of Hormuz and broader Middle East instability.  Energy costs were the dominant driver of March inflation, with overall energy prices rising 3.9% year‑over‑year after a sharp decline the month before. Excluding gasoline, inflation would have eased to 2.2% , highlighting how concentrated the price shock was.  Food inflation offered mixed relief: grocery prices rose 4.4% , while fresh vegetables jumped 7.8% due to difficult growing conditions. Restaurant inflation cooled sharply as last year’s tax‑holiday distortions fell out of the annual comparison.  Economists note that while headline inflation spiked, core measures remained relatively tame , giving the Bank of Canada ro...
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Gaza Aid at Risk Amid Rafah Assault

The United Nations has raised concerns that humanitarian aid for the Gaza Strip may come to a halt within days due to the escalating ground conflict in Rafah. Israeli forces have intensified their operations, capturing key areas and disrupting vital aid corridors.

  • UN Warns of Aid Cessation: The UN cautions that the Gaza Strip’s aid could stop soon as Israeli troops advance into Rafah, a critical aid passage.
  • Rafah Under Siege: Israeli tanks have taken control of Rafah’s main road, isolating the city’s eastern part and prompting a large-scale civilian evacuation.
  • Humanitarian Crisis Looms: With supplies dwindling, UN agencies warn of a dire situation, with fuel and food stocks rapidly depleting.
  • International Tensions Rise: The conflict has led to a significant rift between Israel and the United States, with the latter blocking some military aid to Israel.

The situation in Rafah remains precarious, with residents facing constant bombardment and a lack of safe refuge. The international community watches closely as ceasefire talks have yet to yield a resolution to the hostilities.

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