Skip to main content

Featured

Canada's Inflation Jumps to 2.4% in March — And Your Grocery and Gas Bills Show It

Canada's annual inflation rate climbed to 2.4% in March 2026 , up sharply from 1.8% in February, according to Statistics Canada data released Monday. The jump was driven almost entirely by soaring energy prices tied to the U.S.-Iran conflict and its disruption of oil flows through the Strait of Hormuz — and Canadians felt it directly at the gas pump and grocery store. Headline CPI (March) 2.4% ▲ Up from 1.8% in February Gasoline (monthly) +21.2% Largest monthly jump on record Grocery prices (year/year) +4.4% Up from 4.1% in February Core CPI (ex-gas) 2.2% Milder than expected Gas was the main culprit Gasoline prices surged a record 21.2% month over month in March — the largest single-month jump ever recorded in Canada — as the U.S.-Iran conflict choked off roughly one-fifth of the world's oil supply through the Strait of Hormuz. On a year-...
Post a Comment
Read more

article

Labels

U.S. Urges China to Dissuade Iran from Closing Vital Oil Chokepoint

In a high-stakes diplomatic appeal, U.S. Secretary of State Marco Rubio has called on China to intervene and prevent Iran from executing a plan to close the Strait of Hormuz—a critical maritime passage through which nearly 20% of the world’s oil supply flows.

The request follows reports that Iran’s parliament approved a measure to shut the strait in response to recent U.S. airstrikes on Iranian nuclear facilities. While the final decision rests with Iran’s Supreme National Security Council, the move has already rattled global markets and raised fears of a broader conflict.

Rubio emphasized China’s leverage, noting its heavy reliance on Iranian oil. “If they do that, it will be another terrible mistake. It’s economic suicide for them,” he said, urging Beijing to use its influence to de-escalate the situation.

The European Union echoed these concerns, warning that any disruption in the Strait would be “extremely dangerous and not good for anybody”.

As tensions mount, the world watches closely—aware that a single decision in the Persian Gulf could ripple across global energy markets and geopolitical alliances.

Labels:

Comments

Post a Comment