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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 Futures Edge Higher as Rate Cut Hopes Build After Mild Inflation Data

 

US stock futures ticked upward Wednesday morning, buoyed by growing expectations that the Federal Reserve could lower interest rates at its September meeting following the latest inflation report.

Futures tied to the Dow Jones Industrial Average rose 0.3%, while the S&P 500 added 0.1% and the Nasdaq 100 gained 0.2%. The move comes after Tuesday’s rally, when both the S&P 500 and Nasdaq closed at record highs on the back of July’s Consumer Price Index data.

Although inflation ticked up last month, the increase was smaller than economists had forecast, reinforcing hopes that the Fed may pivot toward easing monetary policy—especially as recent labor market indicators point to cooling conditions.

Investors are now eyeing additional economic clues later this week, with the Producer Price Index due Thursday and retail sales figures on Friday. Corporate earnings remain in focus as well, with notable premarket moves from Cava, CoreWeave, and Circle following their latest results.

The combination of softer inflation, a moderating jobs market, and cautious optimism from traders has set the stage for a potentially pivotal Fed decision next month.

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