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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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Liberals Clear First Budget Confidence Hurdle in Ottawa


The minority Liberal government has successfully navigated its first major test on the 2025 federal budget, defeating a Conservative sub-amendment that sought to reject the fiscal plan. The vote, held Thursday evening in the House of Commons, ended with 198 MPs opposing the motion and 139 supporting it, ensuring the government’s survival in this initial confidence challenge.

The Conservative sub-amendment criticized the budget as failing to deliver affordability for Canadians. Had it passed, the measure could have triggered a federal election just months after the last one. However, the Liberals secured crucial backing from the NDP, Bloc Québécois, and Green Party MPs, who joined them in voting down the Conservative attempt.

Finance Minister François-Philippe Champagne and Prime Minister Mark Carney were seen applauding their caucus after the vote, signaling relief at clearing the first of three confidence hurdles tied to the budget. Interim NDP Leader Don Davies confirmed earlier in the day that his party’s seven MPs would side with the government, effectively removing suspense from the outcome.

Despite this victory, the Liberals remain under pressure. The next test comes Friday, when MPs will vote on a Bloc Québécois amendment opposing the budget. A defeat in that vote—or in the final budget vote later this month—would mean the government has lost the confidence of the House, potentially triggering another election.

The Liberals currently hold 170 of the 172 votes needed to pass the budget, bolstered by recent defections from Conservative MPs. Still, with only a slim margin separating them from defeat, the coming days will determine whether this survival marks the beginning of stability or merely a temporary reprieve.


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