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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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Market Turmoil: Trump’s Tariff Threats Shake Wall Street

Wall Street faced a sharp downturn on Friday as President Donald Trump announced new tariff threats targeting Apple and the European Union. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all slid significantly in response to the news.

Trump stated that Apple must pay a 25% tariff on iPhones sold in the U.S. unless they are manufactured domestically. Apple shares dropped 3% following the announcement. Additionally, Trump proposed a 50% tariff on all EU imports starting June 1, citing stalled trade negotiations.

The market reaction was swift, with futures on the Dow Jones sinking 1.5%, the S&P 500 falling 1.6%, and the Nasdaq 100 dropping 1.8%. Investors are now grappling with the potential economic impact of these tariffs, particularly as concerns over the U.S. deficit and inflation continue to mount.

With Memorial Day approaching, traders are bracing for further volatility as they assess the broader implications of Trump’s aggressive trade policies.

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