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Canada’s Inflation Rebounds to 2.4% in December After Tax Holiday Effect Fades

Food prices were expected to rise on a year-over-year basis because December 2024 restaurant prices had been lowered by the temporary GST holiday that ended in early 2025.  Canada’s annual inflation rate accelerated to 2.4% in December , coming in hotter than economists expected and marking a noticeable uptick from November’s 2.2%. The increase was driven largely by a “base‑year effect” tied to last year’s temporary federal GST/HST holiday, which had artificially lowered prices during the same period a year earlier. With those discounts no longer part of the comparison, categories such as restaurant meals, alcohol, and children’s goods appeared more expensive on a year‑over‑year basis, pushing the headline inflation figure higher. Despite the jump, underlying price pressures continued to ease. Key core inflation measures — which strip out volatile items — cooled for the third straight month, suggesting that broader inflation momentum is still slowing. Month‑to‑month, consumer pr...
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South Korea Considers Supplying Arms to Ukraine After Russia-North Korea Pact

 

In a significant policy shift, South Korea has expressed its willingness to consider sending arms to Ukraine. This decision comes after Russia and North Korea signed a defense pact, pledging mutual aid in the event of war. The agreement, which observers believe marks a strong connection between Moscow and Pyongyang since the Cold War’s end, has raised concerns in the region and beyond.

The pact, signed during a summit in Pyongyang, outlines that if either country faces invasion and is pushed into a state of war, the other must provide “military and other assistance” without delay. However, this assistance must align with both countries’ laws and Article 51 of the United Nations Charter, recognizing a member state’s right to self-defense.

South Korea’s presidential office swiftly condemned the agreement, calling it a threat to its security and a violation of U.N. Security Council resolutions. The office warned that this development could strain Seoul’s relations with Moscow. National security adviser Chang Ho-jin stated that Seoul would reconsider providing arms to Ukraine to counter Russia’s invasion.

This situation highlights the delicate balance between regional security concerns and geopolitical dynamics, as South Korea navigates its response to the Russia-North Korea pac. The world watches closely as tensions escalate and alliances shift in the face of global challenges.


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