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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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Lula Stands Firm Against Trump Tariff Pressure, Rejects “Humiliation” of Direct Talks

Brazil's President Luiz Inacio Lula da Silva speaks during an interview with Reuters at the Alvorada Palace, in Brasilia

Brazilian President Luiz Inácio Lula da Silva has firmly rejected the idea of initiating direct talks with U.S. President Donald Trump over newly imposed tariffs, calling such a move a “humiliation.” As the U.S. raised tariffs on Brazilian goods to 50%, Lula emphasized that he would not compromise Brazil’s sovereignty or dignity by pleading for negotiations.

“The day my intuition says Trump is ready to talk, I won’t hesitate to call him,” Lula said in an interview. “But today my intuition says he doesn’t want to talk. And I’m not going to humiliate myself.”

The tariff hike, which Trump linked to demands for halting the prosecution of former Brazilian President Jair Bolsonaro, has sparked outrage in Brasília. Lula condemned the move as an unacceptable interference in Brazil’s judicial affairs, calling Bolsonaro a “traitor to the homeland” and accusing Trump of trying to dictate terms to a sovereign nation.

Instead of bilateral talks, Lula is turning to multilateral diplomacy. He plans to consult BRICS leaders—starting with India and China—on a coordinated response to the U.S. tariffs. Lula, who currently holds the BRICS presidency, said Trump’s actions threaten global multilateralism and reflect a dangerous shift toward unilateralism.

 “Brazil deserves respect,” Lula declared during a national economic council meeting. “We cannot depend on just one country. Brazil wants to trade, to grow, and to be treated as an equal partner”.

While cabinet-level discussions with U.S. officials may continue, Lula’s stance signals a broader shift in Brazil’s foreign policy—one that prioritizes dignity, sovereignty, and strategic alliances over appeasement.


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