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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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Canada’s Railways and Union in Critical Talks as Midnight Deadline Looms

 

Canada’s two major freight railroads, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC), are currently embroiled in intense labor negotiations. The stakes are high: if an agreement isn’t reached by midnight, thousands of workers could face a lockout. This would halt the movement of approximately $1 billion worth of goods that traverse these companies’ tracks daily.

Prime Minister Justin Trudeau has urged both sides to continue their efforts at the negotiation table. He emphasized that millions of Canadians, workers, farmers, and businesses across the country are counting on a resolution. The Canadian Chamber of Commerce, Business Council of Canada, Canadian Federation of Independent Business, and the Canadian Manufacturers & Exporters have also called on the federal government to take immediate action to keep trains running and goods flowing.

The situation remains tense, and the outcome will have significant implications for the Canadian economy. Let’s hope that a last-minute agreement can be reached to avert a major rail stoppage. 

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