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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 Pauses at Record Highs as Fed Rate Cut Looms

 

U.S. stock futures were little changed Friday morning as investors caught their breath after a week of record-breaking gains, with the Federal Reserve’s upcoming interest rate decision now seen as a near certainty.

Dow Jones Industrial Average futures slipped 0.2%, S&P 500 futures edged down 0.1%, and Nasdaq 100 contracts hovered just above flat. The muted moves follow Thursday’s rally, which saw the Dow close above 46,000 for the first time and all three major indexes notch fresh records.

Recent economic data has painted a mixed picture: job growth slowed sharply last month, with just over 20,000 positions added, while weekly jobless claims surged to a near four-year high. Inflation remains stubborn, partly fueled by tariff-related price pressures, but traders believe it’s subdued enough for the Fed to act.

Markets are pricing in a more than 90% chance of a quarter-point cut at next week’s meeting, with many expecting multiple reductions before year-end. Still, the central bank faces a delicate balancing act — cutting too aggressively risks stoking inflation, while moving too slowly could deepen cracks in the labor market.

For now, Wall Street’s rally has left the major indexes on track for weekly gains of around 1.6%, even as Main Street sentiment grows more cautious.


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