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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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Crete Earthquake: Greek Fire Brigade on High Alert After 6.1 Magnitude Tremor

 

Emergency services in Greece are on high alert after a 6.1 magnitude earthquake struck off the coast of Crete early Thursday morning. The tremor, which occurred 79 kilometers off the city of Heraklion, was felt across Turkey and Israel, causing concern among residents and tourists.

Despite the intensity of the quake, no immediate reports of injuries or serious property damage have been received, according to the Greek fire brigade. Authorities remain vigilant, monitoring the situation closely as Greece is one of Europe's most earthquake-prone regions.

The seismic event comes amid heightened concerns over increased earthquake activity in the region. Earlier this year, the island of Santorini experienced a series of tremors that led to evacuations and temporary school closures.

Local officials have urged residents to stay informed and follow safety protocols while emergency response teams remain on standby. As the summer season begins, tourists and locals alike are advised to remain cautious and prepared for potential aftershocks.



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