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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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Trump Signals Optimism Ahead of Alaska Summit with Putin on Ukraine Peace Talks


On the eve of a high-stakes meeting in Alaska, U.S. President Donald Trump expressed confidence that Russian President Vladimir Putin is ready “to make a deal” to end the war in Ukraine. Speaking in a radio interview, Trump suggested that while Putin may have once sought sweeping territorial gains, the Russian leader is now open to negotiations — a shift Trump attributes to their personal rapport.

The summit, set for August 15, will mark the first face-to-face talks between the two leaders since Russia’s full-scale invasion in 2022. Ukrainian President Volodymyr Zelenskyy will not attend, though Trump has indicated that a follow-up meeting involving Kyiv could occur if progress is made.

Trump tempered expectations, noting that an immediate ceasefire may not emerge from the talks, but emphasized his focus on securing “peace fast.” Putin, for his part, praised Trump’s “energetic and sincere efforts” to end the fighting.

The meeting has drawn concern from Ukrainian and European officials, who warn that any agreement reached without Ukraine’s direct involvement could undermine its sovereignty and security. Still, the Alaska summit is being closely watched as a potential turning point in a conflict that has raged for more than three years.

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