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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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Bayrou Ousted as French PM After Crushing Confidence Vote Defeat

 

Protesters hold a banner which reads "Bye Bayrou" as they gather for a "Bayrou’s farewell party" protest in front of the city hall in Nantes, ON, September 8, 2025.



France has been plunged into fresh political turmoil after Prime Minister François Bayrou lost a high-stakes vote of confidence in the National Assembly, securing just 194 votes in favour against 364 opposed. The defeat, triggered by Bayrou himself in a gamble to push through his controversial €44 billion austerity plan for 2026, means he will now submit his resignation to President Emmanuel Macron on Tuesday.

Bayrou, a veteran centrist and Macron’s fourth prime minister in less than two years, had argued that deep spending cuts were essential to tackle France’s ballooning debt, which has reached 113.9% of GDP. His proposals — including scrapping two public holidays — provoked fierce opposition from both the far right and hard left, who united to bring down his minority government.

The loss leaves Macron facing a critical decision: appoint a new prime minister capable of navigating France’s fractured parliament, or risk further instability by calling snap elections. Names circulating for the role include Finance Minister Eric Lombard, former Socialist Prime Minister Bernard Cazeneuve, and Defence Minister Sébastien Lecornu.

Meanwhile, political tensions are spilling into the streets. Grassroots movements and trade unions have announced nationwide protests and strikes in the coming weeks, adding public unrest to the political crisis. With France’s credit rating under review and economic pressures mounting, the coming days could prove decisive for the country’s political and financial future.

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