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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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Lifeline for Kapuskasing: $29M Government Bailout Revives Northern Ontario Paper Mill

 

The paper mill in Kapuskasing, Ont., in 2017, then owned by Tembec. Current operator Kap Paper said last month that it would have to idle operations after failing to obtain emergency government support.


A major paper mill in Kapuskasing, Northern Ontario, is set to restart operations after receiving a combined $29 million in financial support from the federal and provincial governments.

The funding package comes after weeks of uncertainty, during which the mill announced plans to idle operations due to mounting financial pressures. The shutdown had already sent home most of the mill’s 350 employees and threatened the livelihoods of an additional 2,500 forestry workers across the region.

The bailout includes a mix of loans and support measures designed to stabilize the company while it develops a long-term strategy to remain competitive in the global pulp and paper market. Officials say the intervention was necessary to protect jobs and sustain the forestry supply chain that underpins the local economy.

Community leaders in Kapuskasing welcomed the announcement, calling it a critical step in safeguarding one of the town’s largest employers. The mill’s restart is expected to roll out gradually in the coming weeks, bringing workers back on the job and restoring confidence in the region’s forestry sector.


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