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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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Uncertainty Looms Over $250 Rebate Cheques as Freeland Faces Opposition

 

The fate of the proposed $250 rebate cheques for Canadians remains uncertain as Deputy Prime Minister Chrystia Freeland expressed disappointment over the lack of support from opposition parties. The cheques, intended for Canadians who worked and earned up to $150,000 in the past year, were initially part of the federal government's plan to ease affordability concerns alongside a two-month holiday on GST and HST for certain items.

Despite the Liberals' efforts to push the tax break bill through Parliament, the rebate cheques were notably absent from the stand-alone bill presented on Wednesday. Freeland cited the minority status of the government and the inability to secure the necessary support from opposition parties as the primary reasons for this omission.

The proposal initially seemed to have backing from the NDP, but Leader Jagmeet Singh later stated that his party would not support the rebates unless they were expanded to include more Canadians, such as seniors, students, and people with disabilities who were not working last year. Prime Minister Justin Trudeau criticized the NDP for their stance, arguing that it undermines the support for hardworking Canadians.

As the government continues to navigate these political challenges, the future of the $250 rebate cheques remains in limbo, leaving many Canadians uncertain about the promised financial relief.


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