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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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Senate Approves $9 Billion in Cuts, Marking Fiscal Win for Trump


In a narrow 51–48 vote, the U.S. Senate passed a sweeping $9 billion rescissions package early Thursday morning, delivering a significant legislative victory to President Donald Trump. The bill slashes funding for foreign aid programs and eliminates all $1.1 billion earmarked for the Corporation for Public Broadcasting over the next two years.

The cuts target global health initiatives, disaster relief, and development assistance, though a $400 million reduction to the PEPFAR HIV/AIDS program was removed following bipartisan pushback. Senators Lisa Murkowski (R-Alaska) and Susan Collins (R-Maine) broke ranks with their party, citing concerns over the impact on rural broadcasting and global disease prevention efforts.

Senate Majority Leader John Thune hailed the move as a “small but important step toward fiscal sanity”, while Democrats criticized it as a partisan maneuver that undermines Congress’s constitutional role in federal spending. The bill now returns to the House for final approval before Friday’s deadline, after which the rescissions would expire if not enacted.

The vote underscores Trump’s growing influence over Congress in his second term, with Republicans largely aligning behind his agenda despite internal dissent and warnings of long-term consequences for America’s global standing and domestic emergency communications.

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