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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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Wall Street Glides to Close as Record-Setting Week Wraps Up

 


Stocks Coast Toward the Finish of a Record-Setting Week

U.S. stocks drifted higher on Friday, capping off a week of historic gains that left investors optimistic about the market’s momentum heading into the second half of the year. The S&P 500 and Nasdaq Composite both notched fresh all-time highs earlier in the week, buoyed by strong corporate earnings, cooling inflation data, and renewed hopes for interest rate cuts later this year.

The Dow Jones Industrial Average also joined the rally, logging its best weekly performance since early spring. Tech giants led the charge, with semiconductors and AI-related stocks continuing to attract investor enthusiasm. Meanwhile, consumer sentiment showed signs of improvement, adding to the bullish tone.

Despite Friday’s modest moves, analysts say the market’s resilience reflects growing confidence in a soft landing for the economy. “We’re seeing a shift from uncertainty to cautious optimism,” said one strategist. “The data is aligning with the narrative that the Fed may be done hiking rates.”

As Wall Street heads into earnings season’s peak, investors will be watching closely for signs that corporate America can sustain the momentum. For now, the mood is upbeat — and the records speak for themselves.


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