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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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Western Leaders Condemn Israel’s Actions in Gaza, Netanyahu Pushes Back

Israeli Prime Minister Benjamin Netanyahu has strongly criticized Canada, the United Kingdom, and France for their joint statement condemning Israel’s military operations in Gaza. The three nations warned that they would take "concrete actions," including potential sanctions, if Israel did not cease its offensive and allow humanitarian aid into the region.

Netanyahu responded by accusing the leaders of Canada, the U.K., and France of offering Hamas "a huge prize" by pressuring Israel to halt its operations. He defended Israel’s actions, stating that his country plans to take full control of Gaza and encourage voluntary emigration, a proposal rejected by Palestinian leaders.

The joint statement from Canadian Prime Minister Mark Carney, British Prime Minister Keir Starmer, and French President Emmanuel Macron described Israel’s military escalation as "wholly disproportionate" and called for an immediate ceasefire. They also criticized Israel for restricting food aid to Gaza, labeling the humanitarian situation as "intolerable".

Netanyahu’s remarks highlight the growing tensions between Israel and its Western allies, as international pressure mounts for a resolution to the ongoing conflict. The leaders of Canada, the U.K., and France continue to advocate for a two-state solution while urging Israel to reconsider its approach.

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