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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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U.K. Threatens Palestinian State Recognition Amid Gaza Crisis

                                            British Prime Minister Keir Starmer

U.K. Sets September Deadline for Israel to Act on Gaza Ceasefire

In a bold diplomatic move, British Prime Minister Keir Starmer announced that the United Kingdom will formally recognize a Palestinian state in September unless Israel agrees to a ceasefire and takes concrete steps toward peace in Gaza.

Starmer convened a rare summer Cabinet meeting to address the escalating humanitarian crisis in Gaza. He stated that recognition would be granted before the United Nations General Assembly unless Israel ends hostilities, halts annexation in the West Bank, and recommits to a two-state solution.

The announcement follows mounting international pressure, especially after French President Emmanuel Macron declared France would recognize Palestinian statehood in September. Starmer emphasized that Hamas must also disarm, release hostages, and accept exclusion from Gaza’s future governance.

Israel swiftly condemned the U.K.'s stance, calling it a “reward for Hamas” and warning it could undermine ceasefire negotiations.

This shift marks a significant departure from the U.K.’s long-held position that Palestinian recognition should be part of a negotiated peace. With over 140 countries already recognizing Palestine, Britain and France would become the first major Western powers to do so unilaterally.

The final decision will hinge on developments before the UNGA meeting in September, as Starmer’s government assesses whether Israel and Hamas have made meaningful progress toward peace.


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