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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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Trump Criticizes EU and Japan Over Trade Negotiations

U.S. President Donald Trump has voiced frustration over ongoing trade discussions with the European Union and Japan, claiming that neither party has offered a fair deal. Speaking aboard Air Force One after departing the G7 summit in Canada, Trump stated that the EU has been "tough" in negotiations and has yet to present an acceptable agreement. 

Regarding Japan, Trump remarked that negotiations have been challenging, but he remains hopeful for a resolution. He indicated that Japan would soon receive a letter outlining U.S. trade expectations, emphasizing that they would need to comply or risk losing business opportunities with the United States. 

Trump also highlighted progress in trade talks with the United Kingdom, announcing that he and British Prime Minister Keir Starmer had finalized a trade agreement at the summit. Meanwhile, discussions with Canada remain ongoing, with Trump expressing optimism about reaching a deal. 

The president's comments come amid broader trade tensions, including negotiations with China, where the U.S. has proposed a framework to ease tariff disputes. As the July 9 deadline for tariff adjustments approaches, global markets are closely watching the administration's next moves. 


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