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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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Toronto Home Sales Rise for Third Consecutive Month Amid Falling Prices

 

Toronto’s housing market is showing signs of a cautious rebound, with home sales in the Greater Toronto Area (GTA) climbing for the third straight month in June. According to the Toronto Regional Real Estate Board (TRREB), seasonally adjusted sales rose 8.1% month-over-month to 5,068 units—the highest level since January.

Despite the uptick in activity, prices continued their downward trend. TRREB’s home price index dipped 0.9% to C$978,200, marking a continued decline since December. This combination of increased inventory and lower prices has shifted the balance of power toward buyers, who are now negotiating discounts and enjoying more choice in the market.

Why the Shift?

  • Lower borrowing costs: The Bank of Canada has slashed its benchmark interest rate by 2.25 percentage points since June 2024, making mortgages more affordable.
  • More listings: New listings rose 7.7% year-over-year, giving buyers more leverage and reducing the pressure of bidding wars.
  • Economic uncertainty: Ongoing trade tensions and a slowing economy have kept some sellers motivated and prices in check.

TRREB President Elechia Barry-Sproule noted that “homeownership is becoming a more attainable goal for many households in 2025,” thanks to improved affordability and increased supply.

While the market is still recovering from last year’s slump, the current trend suggests a more balanced playing field—at least for now.

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