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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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Urgent Talks Scheduled for Gaza Ceasefire and Hostage Release

 


In a joint statement, leaders from the United States, Qatar, and Egypt have called for urgent talks between Israel and Hamas. The proposed meeting is set for August 15 and aims to bridge the remaining gaps in the Gaza ceasefire agreement.

Key Points:

  1. Ceasefire Agreement: The talks seek to finalize a comprehensive ceasefire agreement, putting an end to the ongoing conflict in Gaza.

  2. Hostage Release: Another critical objective is securing the release of hostages and prisoners held by both sides.

  3. Location: The negotiations could take place either in Doha or Cairo.

  4. Time Sensitivity: The urgency of the situation underscores the need for swift action.

Leaders emphasize that now is the time to find common ground and bring stability to the region. As the world watches, hopes are high that these talks will yield positive results.


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