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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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GST Holiday Brings Mixed Reactions from Retailers

 

Retail organizations are welcoming the federal government’s decision to temporarily suspend the Goods and Services Tax (GST) on a wide range of items from December 14 to February 15. This move is expected to boost consumer spending during the typically slow post-holiday period. However, industry observers warn that the implementation could pose significant logistical challenges for many retailers.

The Retail Council of Canada has highlighted that while the GST break will be straightforward for some businesses, others may face a laborious process. Retailers will need to identify which products qualify for the tax exemption, reprogram their point-of-sale systems, and prepare to reverse these changes once the holiday ends.

Small and medium-sized businesses, in particular, may struggle with the short notice and the administrative burden. Despite these challenges, the retail sector remains optimistic that the GST holiday will drive increased traffic and sales, providing a much-needed boost during a period of economic uncertainty.


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