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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: Stocks Plunge, Oil Surges After Israel Strikes Iran

Global financial markets are reeling after Israel launched a military strike on Iran, escalating geopolitical tensions in the Middle East. Investors rushed to safe-haven assets, sending stock futures tumbling while oil and gold prices surged.  


Stock Market Reaction  

U.S. stock futures dropped sharply in premarket trading, with the Dow Jones Industrial Average falling 531 points (1.2%), the S&P 500 down 1.3%, and the Nasdaq 100 sliding 1.4%. The heightened uncertainty has also pushed Treasury yields lower and Bitcoin prices into decline.  

Oil Prices Surge  

Crude oil prices spiked following the attack, with Brent crude jumping 5% to $72.81 per barrel, while West Texas Intermediate (WTI) crude surged 5% to $71.45 per barrel. The fear of further escalation in the Middle East, a key oil-producing region, has raised concerns about potential disruptions in global energy supplies.  

Gold and Defense Stocks Rise  

Gold prices climbed 1% to $3,436 per Troy ounce, reaching an all-time high as investors sought refuge in the precious metal. Defense stocks, including Lockheed Martin and RTX Corporation, saw gains as markets anticipated increased military spending.  

Geopolitical Fallout 

Israel’s operation, dubbed “Rising Lion,” targeted Iran’s nuclear facilities and military leadership. Iranian officials confirmed that the head of the Islamic Revolutionary Guard Corps was killed in the strikes, while Israel warned that the operation could last “as many days as it takes”. Iran has vowed severe retaliation, raising fears of prolonged instability in the region.  

As markets brace for further volatility, investors are closely watching developments in the Middle East and assessing the broader economic impact of the escalating conflict.

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