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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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Trudeau Stays Put Over Holidays, Freeland Eyes Leadership

 

Despite mounting pressure from within his party, Prime Minister Justin Trudeau has decided not to step down over the Christmas holidays. According to sources, Trudeau will spend Christmas in Ottawa before heading to British Columbia for a ski vacation with his family. 

The Liberal Party is currently in turmoil following the resignation of Finance Minister Chrystia Freeland. Freeland's departure has intensified calls for Trudeau to resign, with many Liberal MPs suggesting she could be a strong contender for the party's leadership. Freeland's resignation letter highlighted her disagreements with Trudeau over the direction of the government, particularly in light of the challenges posed by U.S. President-elect Donald Trump's tariff threats.

As Trudeau reflects on his future, the Liberal Party is preparing for a potential leadership contest. Freeland, who has been praised for her handling of the NAFTA negotiations and her role during the COVID-19 pandemic, is seen by many as a capable successor. However, her popularity is not universal, with some MPs criticizing the timing and manner of her resignation.

The coming weeks will be crucial for the Liberal Party as they navigate this period of uncertainty and prepare for the possibility of a new leader at the helm.

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